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Government’s Take over Farm Loan Waivers Regarding Fiscal Targets

Finance Minister Arun Jaitley today ruled out any waiver of farm loan and said the Centre will adhere to fiscal targets. The remark came as Punjab became the third state after Uttar Pradesh and Maharashtra to announce waiver of loans given to farmers.

Replying to questions from reporters, Jaitley said the Centre is not considering any such plan.

The government had in 2008 waived farm loan to the tune of Rs 74,000 crore. The Centre, he said, will adhere to all fiscal targets including fiscal deficit.

Arun Jaitley said that he would not comment on the loan waivers by states and had already made his position clear last week.

On June 12, Jaitley had said the Centre will not fund any of the loan waivers by states and they will have to find their own funds for doing so.

“I have already made the position clear that states which want to go in for these kind of schemes (farm loan waivers) will have to generate them from their own resources. Beyond that the central government has nothing more to say,” he said.

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