1. Loan waivers have become a fashion now: Union Minister Venkaiah Naidu

Loan waivers have become a fashion now: Union Minister Venkaiah Naidu

With a number of states going ahead and passing farm loan waivers, which have put immense pressure on their fiscal conditions, Union Minister Venkaiah Naidu has reacted by saying that "Loan waivers have become fashion now."

By: | New Delhi | Updated: June 22, 2017 12:28 PM
loan waivers, venkaiah naidu, naidu, maharashtra loan waiver, maharashtra farmer protest, Madhya Pradesh farmer protest, mp farmer protest, Union Minister Venkaiah Naidu, loan waivers in india, air india, india news, latest news Union Minister Venkaiah Naidu has reacted by saying that “Loan waivers have become fashion now.” (Source: ANI/Twitter)

With a number of states going ahead and passing farm loan waivers, which have put immense pressure on their fiscal conditions, Union Minister Venkaiah Naidu has reacted by saying that “Loan waivers have become a fashion now.” However, he added a proviso by saying that “loans should be waived, but in extreme situations only. In the wake of the Uttar Pradesh Chief Minister Yogi Adityanath clearing a huge farm loan waiver, a number of other states have done the same including Maharashtra, Madhya Pradesh and Punjab. Naidu put his reaction in perspective by saying that, “It’s not a final solution; we have to take care of farmers.” Venkaiah Naidu was speaking at the launch of India’s largest municipal bond programme in Mumbai today, according to ANI.

Naidu also spoke of other top issues that the NDA government is grappling with. Among them is the fate of national carrier. Naidu said, “See what happened to Air India; the government has no business to be in business.” Naidu added the critical areas that Centre needs to focus on. He said, “Government needs to focus on healthcare, administration, education and basic amenities.” Naidu also revealed that, “One more round of smart cities to be announced tomorrow.”

Responding to Naidu’s comments, Communist Party of India (CPIM) leader Sitaram Yechury told ANI that 36-40,000 farmers have committed suicide in last three years. Calling loan waiver fashionable is a disrespect to our ‘anndaata.’

These comments came just one day after the Maharashtra chief minister Devendra Fadnavis announced disbursement of Rs 10,000 crop loan for the farmers. “The amount of Rs 10,000 should be credited to the bank accounts of all farmers who have taken crop loan in the past. It includes all debt-ridden farmers,” said Maharashtra Chief Minister Devendra Fadnavis.

“The urgency with which the policy decision was taken should also reflect in its implementation. Otherwise, the stated objective to provide immediate relief to the needy and poor farmers would be defeated,” Fadnavis added as per a IE report.

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    Gopalswamy Ramesh
    Jun 23, 2017 at 10:57 am
    The Minister is saying loan waiver as fashion.But in opposite way Honourable PM DURING UP ELECTION CAMPAIGN ADVOCATED FOR LOAN WAIVER IF THEY COME TO POWER,IF MINISTER IS SAYING THIS IS ALSO FASHION OR THAT IS JUST A ELECTORAL PROMISE.
    Reply
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      Hari
      Jun 22, 2017 at 8:50 pm
      None of the Indian politicians are sincere and honest in solving poverty and backwardness of poor farmers. All politicians are fooling farmers for votes and thereafter they leave farmers in the lurch. This story is repeated time again in last 70 years. SO FARMERS MUST STOP VOTING TO POLITICAL PARTIES WHO ARE FOOLING THEM AND ARE NOT SOLVING BURNING PROBLEMS IN PERMANENT MANNER. The farmer loan waiver is the wrong precedent set up by different state and Central govt and has very far reaching implications in future when there will be total financial indiscipline in this country by waiving farmer's loan of banks. This will result in the very awkward situation and financial indiscipline faced by banks as they will not get loan recovered from farmers and others which will turn this country into total financial anarchy and indiscipline. All development activities will come to halt as there is no fund left for development activities.
      Reply
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        AKB
        Jun 22, 2017 at 1:21 pm
        The loan waiver to farmers is fashion. Then the perks and the ry hikes given every year to MP/MLA's is beekh given to rich beekharis. These beekharis loot the nation in the name patriotism. Ask each MP and MLA's to serve the country without any remuneration/perks and selflessly. None of them will agree.
        Reply
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          pramod pagar
          Jun 22, 2017 at 1:19 pm
          Very True sir, Only rich farmers are getting loans and getting waiver as well. Even today Marginalize farmer take loan from money lender. This waiver needs to stop somewhere, else link it with Adhar card, those who got waiver will not get farm loan above 1 lakh in future.
          Reply

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