Keeping with the Bharatiya Janata Party’s poll promise, its new government in Uttar Pradesh has waived Rs 36,000 crore of crop loans of up to Rs 1 lakh each, which will benefit 21.5 million small and marginal farmers.
There have been several debates and discussions on the ramifications of such a loan waiver; there is an ostensible divide of opinion between the intelligentsia and those who support a loan waiver policy. The Centre and several states have taken such a step before even at the cost of benefiting wealthy borrowers as well.
Looking at past trends it seems there is no way
