Mr Modi is right

PM deserves credit for resisting nationwide farm loan waiver

In an interview on New Year’s Day, Prime Minister Narendra Modi said that, while any state government was free to institute a farm loan waiver, his own government was focused on “empowering” farmers. The prime minister pointed out that, in the past too, many rounds of farm loan waivers had occurred, but farmers continued to get into troubling amounts of debt — indicating that a structural problem existed and it was yet to be solved. The prime minister is also quite correct in saying that small farmers do not get any benefit from such waivers because they mostly take loans