Madhya Pradesh, Chhattisgarh farm loan waivers: Politics of sops can kill an economy; fiscal indiscipline no pathway for poll wins

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Farm loan waivers are not new to the Indian economy. In 2008-09, the UPA-I government announced a farm loan waiver of Rs 60,000 crore. It hit the exchequer, and not the banks, but it distorted the credit culture since it discouraged farmers from paying up their dues.

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FP Staff

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