Loan Waiver Promise For Farmers Seems Also Proving False And A Failure In India - (with thanks to BALBIR SINGH SOOCH-SIKH VICHAR MANCH)

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States for Schemes Farmers Loan Waiver to Generate Money from Their Own Resources in India, Finance Minister of India, Arun Jaitley clarified



“I have already made the position clear that states which want to go in for such schemes (farm loan waivers) will have to generate them from their own resources. Beyond that the Central Government has nothing more to say,” Jaitley responded.



HIGHLIGHTS:



A. Finance Minister of India, Arun Jaitley today said the Union Government of India will not partake in any state’s fiscal leverage in waiving farm loans



B. Finance Minister of India, Arun Jaitley today said the Union Government of India will not partake in any state’s fiscal leverage in waiving farm loans and made it clear the cost has to be borne by them.



C. On yesterday’s announcement by Maharashtra to do away with farmers’ loans, Jaitley made it clear there would be no funding from the Central coffers.



D. “I have already made the position clear that states which want to go in for such schemes (farm loan waivers) will have to generate them from their own resources. Beyond that the Central Government has nothing more to say,” Jaitley responded.



E. Reserve Bank Governor Urjit Patel has already warned of the fiscal situation going out of hand.



F. Farmers’ representatives have warned they will resume their agitation if the government does not implement the scheme by July 25, 2017

Posted on Jun 13, 17 | 9:33 pm