Loan-Waiver Schemes Got 99 Problems. And Implementation is One

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Loan-Waiver Schemes Got 99 Problems. And Implementation is One

Illustration: Sushant Ahire

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etween yesterday and today, thousands of farmers – men, women, senior citizens – who had gathered in Mumbai, returned to their villages. Hopefully, they did not have to walk back the entire 180 kilometres. They left us amazed with the grace and dignity with which they drew attention to their problems, refusing to upend life for the rest of us. They have now left the ball squarely in the court of the government. Their main demand is an unconditional loan waiver, or in simple words – “loan maaf kar do”.

Waivers are par for the course in our country. We give them more often than Duterte hands out the death penalty. In the last year alone, Uttar Pradesh announced a debt waiver of ₹36,400 crore, Punjab of ₹10,000 crores, Karnataka of ₹8,165 crores and Rajasthan of ₹8,000 crores. Maharashtra, currently in the eye of the storm, had announced a debt waiver of ₹30,500 crores just last July.

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