Anosh Malekar

Loan waiver: No celebration for farmers

Farmers of Punjab are not celebrating the farm loan waiver yet, viewing the loan waiver as a 'temporary crisis management measure' by political parties ahead of an impending election. Going by National Sample Survey Organisation's (NSSO) figures, every farmer household in India was having an average outstanding loan of Rs 1,258. In Punjab, it was the highest at Rs 41,576 (December 03 figures). The recovery rate of institutional loan in Punjab was 85%, highest in the country.