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);

    }
$message = '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.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

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


        trigger_error($message, E_USER_DEPRECATED);

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

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

                trigger_error($message, E_USER_WARNING);

            } else {
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;&lt;br /&gt;New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;&lt;br /&gt;During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;&lt;br /&gt;In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Controversial tool&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;&lt;br /&gt;But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot; title=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Livemint.com

Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;&lt;br /&gt;New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;&lt;br /&gt;During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;&lt;br /&gt;In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Controversial tool&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;&lt;br /&gt;But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot; title=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

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                <strong>Loan waiver leaves Indian farmers trapped in deadly debt spiral -Bibhudatta Pradhan &amp; Pratik Parija</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br /><br />New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br /><br />During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br /><br />In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br /><br />&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br /><br />Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br /><br /><em>Controversial tool<br /></em><br />The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br /><br />But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br /><br />&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br /><br />Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html" title="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br /></div>               </font>
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;&lt;br /&gt;New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;&lt;br /&gt;During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;&lt;br /&gt;In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Controversial tool&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;&lt;br /&gt;But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot; title=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Livemint.com

Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;
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Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

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                <strong>Loan waiver leaves Indian farmers trapped in deadly debt spiral -Bibhudatta Pradhan &amp; Pratik Parija</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br /><br />New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br /><br />During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br /><br />In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br /><br />&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br /><br />Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br /><br /><em>Controversial tool<br /></em><br />The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br /><br />But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br /><br />&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br /><br />Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html" title="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br /></div>               </font>
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;&lt;br /&gt;New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;&lt;br /&gt;During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;&lt;br /&gt;In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Controversial tool&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;&lt;br /&gt;But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot; title=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country&lt;br /&gt;
&lt;br /&gt;
New Delhi: &lt;/em&gt;An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.&lt;br /&gt;
&lt;br /&gt;
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.&lt;br /&gt;
&lt;br /&gt;
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It will give me some relief from the loan burden&amp;mdash;otherwise I will sell part of my land,&amp;rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &amp;ldquo;We farmers are in a dying state.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&amp;rsquo;s marriage. With his farm income reduced, he is now in a debt trap.&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Controversial tool&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The farm loan waiver is one of India&amp;rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&amp;rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.&lt;br /&gt;
&lt;br /&gt;
But the figures don&amp;rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&amp;rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&amp;rsquo; distress.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Livemint.com

Narendra Modi&amp;rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...&#039;
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Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

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                <strong>Loan waiver leaves Indian farmers trapped in deadly debt spiral -Bibhudatta Pradhan &amp; Pratik Parija</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br /><br />New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br /><br />During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br /><br />In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br /><br />&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br /><br />Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br /><br /><em>Controversial tool<br /></em><br />The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br /><br />But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br /><br />&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br /><br />Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html" title="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br /></div>               </font>
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-Livemint.com<br />
<br />
<em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br />
<br />
New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br />
<br />
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br />
<br />
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br />
<br />
&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br />
<br />
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br />
<br />
<em>Controversial tool<br />
</em><br />
The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br />
<br />
But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br />
<br />
&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br />
<br />
Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br />
</div>',
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-Livemint.com

Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...',
	'disp' => '<div align="justify">-Livemint.com<br /><br /><em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br /><br />New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br /><br />During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br /><br />In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br /><br />&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br /><br />Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br /><br /><em>Controversial tool<br /></em><br />The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br /><br />But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br /><br />&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br /><br />Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html" title="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br /></div>',
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	'title' => 'Loan waiver leaves Indian farmers trapped in deadly debt spiral -Bibhudatta Pradhan &amp; Pratik Parija',
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-Livemint.com<br />
<br />
<em>Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country<br />
<br />
New Delhi: </em>An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country.<br />
<br />
During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state.<br />
<br />
In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990.<br />
<br />
&ldquo;It will give me some relief from the loan burden&mdash;otherwise I will sell part of my land,&rdquo; said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. &ldquo;We farmers are in a dying state.&rdquo;<br />
<br />
Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter&rsquo;s marriage. With his farm income reduced, he is now in a debt trap.<br />
<br />
<em>Controversial tool<br />
</em><br />
The farm loan waiver is one of India&rsquo;s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh&rsquo;s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver.<br />
<br />
But the figures don&rsquo;t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month.<br />
<br />
&ldquo;It&rsquo;s an atonement at one end of the failure of the past policies, and an appeasement on the other,&rdquo; said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers&rsquo; distress.<br />
<br />
Please <a href="http://www.livemint.com/Politics/uZX6F6WwYQBtuXgmJpDyQK/Loan-waiver-leaves-Indian-farmers-trapped-in-deadly-debt-spi.html">click here</a> to read more. <br />
</div>',
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-Livemint.com

Narendra Modi&rsquo;s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country

New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh...'
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Loan waiver leaves Indian farmers trapped in deadly debt spiral -Bibhudatta Pradhan & Pratik Parija

-Livemint.com Narendra Modi’s election promise in Uttar Pradesh comes back to haunt as other states demand the Union govt offer an agriculture bailout package across the country New Delhi: An election promise to farmers in the politically sensitive state of Uttar Pradesh is coming back to haunt Prime Minister Narendra Modi, as other states demand the Union government offer an agriculture bailout package across the country. During the hard-fought election campaign, Modi pledged that if his party was voted to power in Uttar Pradesh, it would write off loans of farmers. Earlier this month, the Bharatiya Janata Party (BJP) formed government after securing a significant majority in the state. In Bajherakhurd village in Uttar Pradesh, Kumarpal Singh is eagerly awaiting the announcement that will result in part of his current Rs. 6,40,000 loan being waived. He received a bailout of Rs. 10,000 in 1990. “It will give me some relief from the loan burden—otherwise I will sell part of my land,” said Singh, 67, describing how it is tough for him to pay off the loan due to crop damage and poor prices for his rice and wheat. “We farmers are in a dying state.” Singh paid a 10% cut to a middleman to facilitate the crop loan, which attracts an annual interest rate of 7%. Even though the loan agreement says he has to spend the money for agriculture purposes, he spent most of the money on his daughter’s marriage. With his farm income reduced, he is now in a debt trap. Controversial tool The farm loan waiver is one of India’s most popular, often-used political tools. In 2009, it helped to return to power Manmohan Singh’s Congress-led government, which offered borrowers a bailout program in which 37 million farmers benefited from waivers of Rs. 52,200 crore. In 1990, the government of Prime Minister V. P. Singh also offered an agricultural debt relief program of up to Rs. 10,000 for each borrower. In Andhra Pradesh and Telangana, two separate regional parties came to power in 2014 on the promise of a loan waiver. But the figures don’t add up. Farm waivers increase the budget deficits of federal and state governments and escalate inflation. When he was Reserve Bank of India governor in 2014, Raghuram Rajan said such programs ultimately constrained credit flow to farmers. The waivers also disrupt credit discipline among borrowers, Arundhati Bhattacharya, chief of State Bank of India, said this month. “It’s an atonement at one end of the failure of the past policies, and an appeasement on the other,” said Ashok Gulati, a professor with the Indian Council for Research on International Economic Relations, in New Delhi, arguing loan waivers are not a solution to farmers’ distress. Please click here to read more.