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
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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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')) {

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</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
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-The Financial Express&lt;br /&gt;
&lt;br /&gt;
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.&lt;br /&gt;
&lt;br /&gt;
There is a need to examine this critical issue from the farmer&amp;rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.&lt;br /&gt;
&lt;br /&gt;
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able..."/>
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                <div align="justify">-The Financial Express<br /><br />The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.<br /><br />There is a need to examine this critical issue from the farmer&rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.<br /><br />Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.<br /><br />Please <a href="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/" title="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/">click here</a> to read more. <br /></div>               </font>
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</span></span></code>
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-The Financial Express&lt;br /&gt;
&lt;br /&gt;
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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&lt;br /&gt;
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able...&#039;
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-The Financial Express

The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able..."/>
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                <strong>How farm loan waivers can actually benefit the economy -Charan Singh</strong></h1>
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                <div align="justify">-The Financial Express<br /><br />The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.<br /><br />There is a need to examine this critical issue from the farmer&rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.<br /><br />Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.<br /><br />Please <a href="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/" title="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/">click here</a> to read more. <br /></div>               </font>
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-The Financial Express&lt;br /&gt;
&lt;br /&gt;
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.&lt;br /&gt;
&lt;br /&gt;
There is a need to examine this critical issue from the farmer&amp;rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.&lt;br /&gt;
&lt;br /&gt;
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.&lt;br /&gt;
&lt;br /&gt;
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The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able..."/>
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                <strong>How farm loan waivers can actually benefit the economy -Charan Singh</strong></h1>
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                <div align="justify">-The Financial Express<br /><br />The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.<br /><br />There is a need to examine this critical issue from the farmer&rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.<br /><br />Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.<br /><br />Please <a href="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/" title="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/">click here</a> to read more. <br /></div>               </font>
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-The Financial Express<br />
<br />
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.<br />
<br />
There is a need to examine this critical issue from the farmer&rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.<br />
<br />
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.<br />
<br />
Please <a href="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/">click here</a> to read more. <br />
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-The Financial Express<br />
<br />
The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted.<br />
<br />
There is a need to examine this critical issue from the farmer&rsquo;s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer.<br />
<br />
Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge.<br />
<br />
Please <a href="http://www.financialexpress.com/economy/how-farm-loan-waivers-can-actually-benefit-the-economy/730029/">click here</a> to read more. <br />
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How farm loan waivers can actually benefit the economy -Charan Singh

-The Financial Express The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of more crops, hopefully manifold than the amount of the loan waiver. In fact, a loan waiver can actually benefit the economy, but not in the way it is fashioned now. The analysis needs more depth. India has a history of loan waivers and farm loans have been waived off by different political parties in different parts of the country. Loan waivers not only erode credit discipline of the agricultural sector, but also in other sectors across the country. There are documented studies to show that willingness, and not the ability, has contributed to increasing delinquencies after loan waivers, and banks took nearly a decade to recover from the loan waiver of Rs10,000 crore given by the VP Singh government in 1990. Thus, loan waivers need to be carefully crafted. There is a need to examine this critical issue from the farmer’s perspective. It has to be recognised that awareness and coverage of crop insurance is grossly inadequate. Also, given the life-cycle and shelf life of crops, in the absence of warehouses and agro-processing units, price and market insurance is completely absent. Thus, supply gluts take place and farmers are forced to destroy their crops many a times. Loan defaults by farmers, starting much before a loan waiver, impact the credit history of a farmer, apart from the fact that access to new loans is not available. Further, as institutional lenders withdraw from the area, after a loan waiver, borrowers are pushed to high-cost unorganised channels, like moneylenders. The withdrawal of public sector banks from tractor financing is an exemplary illustration. Therefore, neither loan default nor loan waiver is a celebratory event in the life of a farmer. Should only farmers be blamed? The extension of credit in rural area was pushed in a concerted manner from 1978 under the Integrated Rural Development Programme. This programme was pursued vigorously with many instances where bankers pushed credit in the rural sector without understanding rural background and context. A famous illustration is providing cattle loans in areas where the availability of fodder and marketing of milk was a challenge. Please click here to read more.