The first time ever, farm loan waiver was brought in by Janata Dal Govt in 1990, led by the then PM, VP Singh. The amount was Rs.10,000 crore. And then the gargantuan farm loan waiver was announced by the UPA Govt of Rs.60,000 crore, which helped them win the elections. But it is this UPA waiver and not the VP Singh waiver which set off a very bad precedent of farm loan waivers – politicians are convinced that it’s the only way to win votes.
Banks are still reeling under these various populistic measures, with many in the ICU, getting […]
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