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);

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</span></span></code>
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-The Hindu Business Line
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
&lt;/p&gt;
&lt;p&gt;
&amp;nbsp;
&lt;/p&gt;&#039;,
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-The Hindu Business Line


&amp;nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu Business Line&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;p style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&#039;,
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&amp;nbsp;
&lt;/div&gt;
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&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
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&lt;p style=&quot;text-align: justify&quot;&gt;
The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
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&lt;p&gt;
&amp;nbsp;
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-The Hindu Business Line


&amp;nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;
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-The Hindu Business Line


&nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth..."/>
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                <strong>Harmful waivers</strong></h1>
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                <div style="text-align: justify">-The Hindu Business Line</div><div style="text-align: justify">&nbsp;</div><p style="text-align: justify"><em>Loan write-offs will become redundant if we have a robust crop insurance system</em></p><p style="text-align: justify">The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &lsquo;restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.</p><p style="text-align: justify">But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &lsquo;buy' votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.</p><p style="text-align: justify">Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.</p><p>&nbsp;</p>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019d3371d94-trace').style.display = (document.getElementById('cakeErr68019d3371d94-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68019d3371d94-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019d3371d94-code').style.display = (document.getElementById('cakeErr68019d3371d94-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019d3371d94-context').style.display = (document.getElementById('cakeErr68019d3371d94-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68019d3371d94-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
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</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
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-The Hindu Business Line
&lt;/div&gt;
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&amp;nbsp;
&lt;/div&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
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&lt;p style=&quot;text-align: justify&quot;&gt;
Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
&lt;/p&gt;
&lt;p&gt;
&amp;nbsp;
&lt;/p&gt;&#039;,
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-The Hindu Business Line


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Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu Business Line&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;p style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&#039;,
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&amp;nbsp;
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&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
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The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
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&lt;p&gt;
&amp;nbsp;
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-The Hindu Business Line


&amp;nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;
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-The Hindu Business Line


&nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth..."/>
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                <strong>Harmful waivers</strong></h1>
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                <div style="text-align: justify">-The Hindu Business Line</div><div style="text-align: justify">&nbsp;</div><p style="text-align: justify"><em>Loan write-offs will become redundant if we have a robust crop insurance system</em></p><p style="text-align: justify">The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &lsquo;restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.</p><p style="text-align: justify">But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &lsquo;buy' votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.</p><p style="text-align: justify">Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.</p><p>&nbsp;</p>               </font>
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-The Hindu Business Line
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&amp;nbsp;
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&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
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The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
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Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
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&amp;nbsp;
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-The Hindu Business Line


&amp;nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-The Hindu Business Line&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;p style=&quot;text-align: justify&quot;&gt;&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.&lt;/p&gt;&lt;p style=&quot;text-align: justify&quot;&gt;Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&#039;,
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&amp;nbsp;
&lt;/div&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;Loan write-offs will become redundant if we have a robust crop insurance system&lt;/em&gt;
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&lt;p style=&quot;text-align: justify&quot;&gt;
The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &amp;lsquo;restructured&#039;, there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &amp;lsquo;buy&#039; votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.
&lt;/p&gt;
&lt;p style=&quot;text-align: justify&quot;&gt;
Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.
&lt;/p&gt;
&lt;p&gt;
&amp;nbsp;
&lt;/p&gt;&#039;,
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-The Hindu Business Line


&amp;nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...&#039;
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-The Hindu Business Line


&nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth..."/>
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                <strong>Harmful waivers</strong></h1>
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                <div style="text-align: justify">-The Hindu Business Line</div><div style="text-align: justify">&nbsp;</div><p style="text-align: justify"><em>Loan write-offs will become redundant if we have a robust crop insurance system</em></p><p style="text-align: justify">The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be &lsquo;restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.</p><p style="text-align: justify">But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to &lsquo;buy' votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market.</p><p style="text-align: justify">Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.</p><p>&nbsp;</p>               </font>
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-The Hindu Business Line
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&nbsp;
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<em>Loan write-offs will become redundant if we have a robust crop insurance system</em>
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<p style="text-align: justify">
The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &lsquo;restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
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&nbsp;
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-The Hindu Business Line


&nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...',
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-The Hindu Business Line
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&nbsp;
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<em>Loan write-offs will become redundant if we have a robust crop insurance system</em>
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The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some ₹2,50,000 crore - can be &lsquo;restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control.
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&nbsp;
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-The Hindu Business Line


&nbsp;


Loan write-offs will become redundant if we have a robust crop insurance system


The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving ₹54,000 crore worth...'
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Harmful waivers

-The Hindu Business Line   Loan write-offs will become redundant if we have a robust crop insurance system The Chief Minister of residual Andhra Pradesh N Chandrababu Naidu may have bought time in implementing his lavish pre-poll promise of waiving 54,000 crore worth of farm loans. The decision to appoint an expert committee to recommend guidelines on the waiver may well be a ploy to defer - even soften - the impact of his rash populism. But the worst aspect of such political opportunism is that rather than helping farmers, it will eventually only cut off their access to formal lending institutions. Giving that agriculture involves a huge gamble on the weather - a bumper crop ready for harvest can be ravaged overnight by an unseasonal storm - there is a case for adopting a sympathetic approach towards loans given to farmers. Surely, at the very least, in an environment in which corporate debts - aggregating some 2,50,000 crore - can be ‘restructured', there is no case for denying farmers similar relief in the event of financial difficulties due to factors beyond their control. But there is a difference between an institutionalised mechanism for the restructuring of debt and outright waivers which are a result of pre-poll promises by self-serving politicians. This kind of populism, by fostering a culture of non-repayment, will only make bankers hesitant to lend. When even those who can afford to repay decide not to - in the expectation of the next government writing off these using taxpayer money - the biggest sufferer is the honest borrower. The latter is now denied a fresh crop loan by the bank and, therefore, forced to go to the village moneylender or the mandi commission agent. A scheme designed to ‘buy' votes, thus, becomes a tool to leave farmers at the mercy of the informal credit market. Farmers can very well do without the large-heartedness of governments if the country has in place a robust crop insurance system. Such insurance should be made mandatory for all crop loans. The sum insured must be equal to at least the loan amount so as to act as collateral for the bank to extend fresh credit for the next season. Such a system should also trigger automatic payouts to farmers against any yield losses or price declines relative to thresholds, based on reasonable averages for each crop and region. The new agriculture minister Radha Mohan Singh has talked of launching an agricultural income insurance scheme. Under this, the Centre would offer insurance based on the average income of farmers over the last 5 to 7 years, while also subsidising the premiums payable. A subsidy on crop insurance is certainly preferable to that on fertilisers or electricity, which promotes inefficient resource use. And an effective crop insurance mechanism will also make political handouts such as loan waivers redundant and unnecessary.