RBI Report on Impact of Loan Waivers
On 13th September 2019, RBI shared the report of an Internal Working Group (IWG), which was set up in February 2019 to look at, among other things, the impact of farm loan waivers on state finances.
Findings of the Report
- The report highlights that once announced, the farm loans waivers are staggered over three to five years. Between 2014-15 and 2018-19, the total farm loan waiver announced by different state governments was Rs 2.36 trillion. Of this, Rs 1.5 trillion has already been waived.
- The actual waivers peaked in 2017-18 in the wake of demonetization and it had ....
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