Uttar Pradesh’s farm loan waiver: Neither egalitarian nor productive
The farm loan waiver announced by CM Yogi Adityanath is at best a palliative that is unlikely to address the challenges faced by Uttar Pradesh's rural economy
Fulfilling his poll promise, chief minister Yogi Adityanath has announced a farm loan waiver scheme in Uttar Pradesh. The scheme will cover small and marginal farmers with debts of up to Rs1 lakh and is expected to cost the state government Rs36,359 crore. How effective can the scheme be in tackling farmers’ woes in India’s largest state?