June 15, 2017
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India Now Faces $49.1 Bn Farm-Loan Waivers-16 times 2017 Budget for Rural roads
As demand s for farm-loan waivers grow across Punjab,Haryana,Tamil Nadu,Gujarat,Madhya Pradesh and Karnataka-after Uttar Pradesh and Maharashtra wrote off loans worth Rs36,359 crore and Rs 30,000 crore respectively- India faces a cumulative loan waiver of Rs 3.1 lakh crore ($49.1 billion), or 2.6% of the country's gross domestic product(GDP) in 2016-17.
A waiver of this scale could pay for the 2017 rural roads budget 16 tines over as pay for 443,000 warehouses or increase India's irrigation potential by 55% more than the achievements of the last years.
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