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

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 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 teh 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.”

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.