-Outlook Banks are fleecing customers to shore up their profits and offset the dead weight of bad loans to corporates When the GST era dawned this month, online jokesters quipped that it was the most inscrutable thing after Duckworth Lewis. But paradoxically, it may have brought a disquieting clarity to another zone of universal experience. Amid the flurry of news reports detailing what would entail a higher tax of 18 per cent,...
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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 »Farm policy: Dis-ease of doing the business of agriculture -Pravesh Sharma
-The Indian Express As the Modi government completes three years, here are three potentially game-changing steps it could now take to harness the sector’s unrealised potential Amidst the predictable tidal wave of opinion pieces to mark the Narendra Modi government’s third anniversary, one little event last week squeezed its way into the inside pages of a few newspapers. This was a call for a “farm strike” in Maharashtra from June 1,...
More »Why Punjab needs incentives, not loan waivers -PK Joshi, Tajuddin Khan & Avinash Kishore
-The Financial Express Punjab farmers would benefit if the state govt subsidised the adoption of appropriate technology and diversification of crops. The newly-elected government in Punjab is considering a loan waiver for farmers to reduce agrarian distress. According to the recent Situation Assessment Survey of Farmers (SASF), the average outstanding loan is nearly three times higher in Punjab compared with the rest of India (Rs 3.31 lakh versus Rs 1.22 lakh). Farmers...
More »Prelude to a contagion -Ashok Gulati & Siraj Hussain
-The Indian Express UP’s farm loan waiver could prompt other states to follow suit, evade real reasons for agricultural distress The new Uttar Pradesh Chief Minister, Yogi Adityanath, has hit the ground running. In his first cabinet meeting, he took three important decisions with regard to farmers. First, he waived farm loans of more than Rs 36,000 crore, primarily of the small and marginal farmers who comprise 92 per cent of the...
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