Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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-Financial Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;Financial Express, 14 December, 2018, https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&#039;,
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Financial Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;&lt;br /&gt;Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;&lt;br /&gt;A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;&lt;br /&gt;However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot; title=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;Financial Express, 14 December, 2018, https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&#039;,
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...&#039;
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears..."/>
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                <strong>Agrarian distress: Income support to farmers better option than loan waivers -Soumya Kanti Ghosh</strong></h1>
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                <div align="justify">-Financial Express<br /><br /><em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br /></em><br />When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br /><br />Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br /><br />A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br /><br />However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br /><br />Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/" title="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br /></div>               </font>
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-Financial Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;Financial Express, 14 December, 2018, https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&#039;,
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Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

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	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Financial Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;&lt;br /&gt;Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;&lt;br /&gt;A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;&lt;br /&gt;However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot; title=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;Financial Express, 14 December, 2018, https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&#039;,
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Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...&#039;
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Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears..."/>
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                <strong>Agrarian distress: Income support to farmers better option than loan waivers -Soumya Kanti Ghosh</strong></h1>
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                <div align="justify">-Financial Express<br /><br /><em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br /></em><br />When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br /><br />Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br /><br />A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br /><br />However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br /><br />Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/" title="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br /></div>               </font>
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-Financial Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Financial Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;&lt;br /&gt;Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;&lt;br /&gt;A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;&lt;br /&gt;However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot; title=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;
&lt;br /&gt;
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;
&lt;br /&gt;
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;
&lt;br /&gt;
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Financial Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.&lt;br /&gt;&lt;br /&gt;Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.&lt;br /&gt;&lt;br /&gt;A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&amp;mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.&lt;br /&gt;&lt;br /&gt;However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&amp;rsquo;18, Jun&amp;rsquo;18 and Mar&amp;rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&amp;rsquo;18 or are at the same level as Jun&amp;rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot; title=&quot;https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

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                <strong>Agrarian distress: Income support to farmers better option than loan waivers -Soumya Kanti Ghosh</strong></h1>
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                <div align="justify">-Financial Express<br /><br /><em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br /></em><br />When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br /><br />Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br /><br />A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br /><br />However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br /><br />Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/" title="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br /></div>               </font>
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-Financial Express<br />
<br />
<em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br />
</em><br />
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br />
<br />
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br />
<br />
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br />
<br />
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br />
<br />
Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br />
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Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...',
	'disp' => '<div align="justify">-Financial Express<br /><br /><em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br /></em><br />When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br /><br />Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br /><br />A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br /><br />However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br /><br />Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/" title="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br /></div>',
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-Financial Express<br />
<br />
<em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br />
</em><br />
When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br />
<br />
Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br />
<br />
A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br />
<br />
However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br />
<br />
Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br />
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$metaTitle = 'LATEST NEWS UPDATES | Agrarian distress: Income support to farmers better option than loan waivers -Soumya Kanti Ghosh'
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-Financial Express

Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.

When the new MSP regime was implemented in July, one of the common fears...'
$disp = '<div align="justify">-Financial Express<br /><br /><em>Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers.<br /></em><br />When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers.<br /><br />Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops.<br /><br />A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017&mdash;the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure.<br /><br />However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep&rsquo;18, Jun&rsquo;18 and Mar&rsquo;18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep&rsquo;18 or are at the same level as Jun&rsquo;18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019.<br /><br />Please <a href="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/" title="https://www.financialexpress.com/opinion/explained-how-income-support-can-help-address-rural-distress/1413430/">click here</a> to read more. <br /></div>'
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Agrarian distress: Income support to farmers better option than loan waivers -Soumya Kanti Ghosh

-Financial Express Income support for farm households may be a worse solution than freeing up agri trade and marketing, but it should work much better than loan waivers. When the new MSP regime was implemented in July, one of the common fears in the market was that the hikes would stoke inflation fears. Four months down the line, not only does this fear seems to have subsided, but serious concerns are now being raised over the continued decline in food prices. Food inflation in rural areas at an all-India level has been consistently declining and stood at 1.9% in FY19 (till November) as against 5.4% in FY15. While such decline/low single-digit inflation in food prices are a boon for consumers, it is bad news for farmers. Interestingly, one common thread that runs in the states of Chhattisgarh, Madhya Pradesh and Rajasthan, besides the elections that just concluded, is the continuous decline in rural food and beverages prices. For Chhattisgarh, the average decline in food prices in post MSP/Aug-Nov period was 3.3%, for Madhya Pradesh 0.38% and for Rajasthan 2.2%. Maharashtra, Andhra Pradesh, Jharkhand and Haryana, the major agricultural states which are due for election next year, are also seeing declining food and beverages prices. It now seems that the AASHA procurement scheme has not taken off significantly (agriculture, though, is a state subject), resulting in farmers just not getting remunerative prices for their crops. A logical corollary of the above is debt waivers for farmers that have now been promised in all the states where elections recently concluded. Several states have already announced loan waivers, taking the total of loan waiver to `1.2 lakh crore since 2017—the implementation of this is still underway. Among the states which are due for election next year, Andhra Pradesh, Haryana and Odisha, have a fair share of agri credit. Even if these states individually announce debt relief, the incremental debt waiver over and above Rs 1.2 lakh crore could be a frightening figure. However, such waivers are not the solution as they are a drag on credit discipline. Our analysis of agri-NPAs (as % of agriculture advances) for the Sep’18, Jun’18 and Mar’18 quarters for select banks revealed that almost all the major banks have registered increase in agri-NPAs in Sep’18 or are at the same level as Jun’18 quarter. It is most likely that such figures might stay elevated in the Q3FY19, as loan waivers have been promised in three of the five states where elections were held recently. Our fear is that, if a remedy is not found quickly, waivers will continue to be the order of the day in most of the states going to elections in 2019. Please click here to read more.