PROVISION OF FINANCIAL SECURITY TO FARMERS INSTEAD OF LOAN WAIVER
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A substantial amount of Govt revenue is wasted in Farm Loan Waivers and political parties use the Farm Loan Waiver as a tool to win elections. We need to devise a fair mechanism to help the poor farmers in financial distress, simultaneously putting an end to unfair practice of loan waivers.
The GOI should identify poor farmers on the basis of land holdings and provide them financial security by remitting a suitable subsistence amount directly in their bank accounts every month. After implementing this, GOI should ban future Farm Loan Waivers through an amendment in Constitution.
This will help farmers not to worry for meeting their essential expenses and may help in stopping farmers suicides. Further, it will stop the unfair and unethical practice of political parties promising loan waivers to win elections.
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