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1-min read

Loan Waiver May Not be the Right Solution, Hints MS Swaminathan

Amidst the raging debate on farmer problems and loan waivers in the country, Father of Green Revolution MS Swaminathan has raised doubts on the government's loan waiver policy and said that waivers would only provide temporary relief to the farmers.

Aishwarya Kumar | News18.com@aishwaryak03

Updated:June 13, 2017, 8:51 PM IST
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Loan Waiver May Not be the Right Solution, Hints MS Swaminathan
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New Delhi: Amidst the raging debate on farmer problems and loan waivers in the country, Father of Green Revolution MS Swaminathan has raised doubts on the government's loan waiver policy and said that waivers would only provide temporary relief to the farmers.

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"The waivers don't provide for a secure long-term credit system. It directly implies that the banks are being compensated by the government," said Swaminathan in a series of tweets.

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While he said that the farmers were dissatisfied with the procurement price, despite a bumper crop, and were unable to replay loans, he added that the loan waivers by the government meant that money for strengthening agricultural infrastructure would now not be adequate.

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While raising doubts on the government's policy, he also said that the Modi government had implemented many recommendations from the National Commission on Farmers.

ALSO READ | Need Political Will to Save Farmers From Economic Collapse: MS Swaminathan

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| Edited by: Bijaya Das
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