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: 150
 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::index() - APP/Controller/ArtileDetailController.php, line 150
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
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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: 151
 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::index() - APP/Controller/ArtileDetailController.php, line 151
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 97
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 {
$response = object(Cake\Http\Response) {

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As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan..."/>
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As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan..." />
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    <h1 class="cat-box-title">Is India faced with a 3.1 lakh crore farm-loan waiver? And will it help?</h1>
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                            <div align="justify">-IANS<br /><br />As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan waiver of Rs 3.1 lakh crore, or 2.6 per cent of its GDP in 2016-17.<br /><br />A waiver of this scale could pay for the 2017 rural roads budget 16 times over or pay for 443,000 warehouses or increase India's irrigation potential by 55 per cent more than the achievements of the last 60 years.<br /><br />While such waivers could provide succour for 32.8 million indebted farmers, an IndiaSpend analysis of the impact of previous farm-loan waivers indicates such bailouts are band-aids of uncertain efficacy and do not address a deeper malaise gripping the agrarian economy.<br /><br />Over nine years to March 2017, the central and state governments waived Rs 88,988 crore in loans to 48.6 million farmers. The nationwide Rs 52,000 crore loan-waiver announced by the United Progressive Alliance (UPA) in 2008 occupies the bulk of this figure.<br /><br />The waivers were primarily meant to discourage suicides by farmers, apparently caused by widespread indebtedness. However, our analysis shows this had little or no impact on suicide rates, probably because 32.5 per cent on average, or 79.38 million, small and marginal farmers across India (with farm holdings of less than 1 to 2 hectares in size) rely on informal sources of credit.<br /><br />Please <a href="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms" title="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms">click here</a> to read more.<br /><br /></div>                                                           
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    <br><a href="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms" class="re" target="_blank">The Economic Times, 15 June, 2017, http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms</a><div class="clear"></div>
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                            <div align="justify">-IANS<br /><br />As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan waiver of Rs 3.1 lakh crore, or 2.6 per cent of its GDP in 2016-17.<br /><br />A waiver of this scale could pay for the 2017 rural roads budget 16 times over or pay for 443,000 warehouses or increase India's irrigation potential by 55 per cent more than the achievements of the last 60 years.<br /><br />While such waivers could provide succour for 32.8 million indebted farmers, an IndiaSpend analysis of the impact of previous farm-loan waivers indicates such bailouts are band-aids of uncertain efficacy and do not address a deeper malaise gripping the agrarian economy.<br /><br />Over nine years to March 2017, the central and state governments waived Rs 88,988 crore in loans to 48.6 million farmers. The nationwide Rs 52,000 crore loan-waiver announced by the United Progressive Alliance (UPA) in 2008 occupies the bulk of this figure.<br /><br />The waivers were primarily meant to discourage suicides by farmers, apparently caused by widespread indebtedness. However, our analysis shows this had little or no impact on suicide rates, probably because 32.5 per cent on average, or 79.38 million, small and marginal farmers across India (with farm holdings of less than 1 to 2 hectares in size) rely on informal sources of credit.<br /><br />Please <a href="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms" title="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms">click here</a> to read more.<br /><br /></div>                                                           
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As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan..." />
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    <h1 class="cat-box-title">Is India faced with a 3.1 lakh crore farm-loan waiver? And will it help?</h1>
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                            <div align="justify">-IANS<br /><br />As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan waiver of Rs 3.1 lakh crore, or 2.6 per cent of its GDP in 2016-17.<br /><br />A waiver of this scale could pay for the 2017 rural roads budget 16 times over or pay for 443,000 warehouses or increase India's irrigation potential by 55 per cent more than the achievements of the last 60 years.<br /><br />While such waivers could provide succour for 32.8 million indebted farmers, an IndiaSpend analysis of the impact of previous farm-loan waivers indicates such bailouts are band-aids of uncertain efficacy and do not address a deeper malaise gripping the agrarian economy.<br /><br />Over nine years to March 2017, the central and state governments waived Rs 88,988 crore in loans to 48.6 million farmers. The nationwide Rs 52,000 crore loan-waiver announced by the United Progressive Alliance (UPA) in 2008 occupies the bulk of this figure.<br /><br />The waivers were primarily meant to discourage suicides by farmers, apparently caused by widespread indebtedness. However, our analysis shows this had little or no impact on suicide rates, probably because 32.5 per cent on average, or 79.38 million, small and marginal farmers across India (with farm holdings of less than 1 to 2 hectares in size) rely on informal sources of credit.<br /><br />Please <a href="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms" title="http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms">click here</a> to read more.<br /><br /></div>                                                           
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Is India faced with a 3.1 lakh crore farm-loan waiver? And will it help?

Published on Jun 17, 2017   Modified on Jun 17, 2017

-IANS As demands for farm-loan waivers grow across Punjab, Haryana, Tamil Nadu, Gujarat, Madhya Pradesh, and Karnataka -- after Uttar Pradesh and Maharashtra wrote off loans worth Rs 36,359 crore and Rs 30,000 crore, respectively -- India faces a cumulative loan waiver of Rs 3.1 lakh crore, or 2.6 per cent of its GDP in 2016-17. A waiver of this scale could pay for the 2017 rural roads budget 16 times over or pay for 443,000 warehouses or increase India's irrigation potential by 55 per cent more than the achievements of the last 60 years. While such waivers could provide succour for 32.8 million indebted farmers, an IndiaSpend analysis of the impact of previous farm-loan waivers indicates such bailouts are band-aids of uncertain efficacy and do not address a deeper malaise gripping the agrarian economy. Over nine years to March 2017, the central and state governments waived Rs 88,988 crore in loans to 48.6 million farmers. The nationwide Rs 52,000 crore loan-waiver announced by the United Progressive Alliance (UPA) in 2008 occupies the bulk of this figure. The waivers were primarily meant to discourage suicides by farmers, apparently caused by widespread indebtedness. However, our analysis shows this had little or no impact on suicide rates, probably because 32.5 per cent on average, or 79.38 million, small and marginal farmers across India (with farm holdings of less than 1 to 2 hectares in size) rely on informal sources of credit. Please click here to read more.

The Economic Times, 15 June, 2017, http://economictimes.indiatimes.com/news/economy/agriculture/is-india-faced-with-a-3-1-lakh-crore-farm-loan-waiver-and-will-it-help/articleshow/59158610.cms

Tagged with: Farm Loan Farm Loans Debt Burden Debt Relief debt waiver scheme Loan Waiver

Related Articles

• Need to make agri credit system equitable -Bishwa Bhaskar Choudhary
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• Public sector banks have ensured financial inclusion, finds a new empirical study
• Are Loan Waivers Not 'Freebies' to Corporates, Asks DMK In Application Before SC
• Plight of the small peasantry in Punjab is affecting their mental health, highlights field-based study

 

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