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Loan waivers have become fashion now, says Venkaiah Naidu

With a number of states announcing farm loan waivers, Union Minister Venkaiah Naidu on Thursday said loan waiver has become…

Loan waivers have become fashion now, says Venkaiah Naidu

Venkaiah Naidu (PHOTO: PIB)

With a number of states announcing farm loan waivers, Union Minister Venkaiah Naidu on Thursday said loan waiver has become a fashion now and it should be waived in extreme situations only.

"Loan waiver has become fashion now. It should be waived but in extreme situations only. It's not a final solution. You have to take care of systems. The farmers should be taken care in distress," Naidu said while speaking at an event in Mumbai.

His statement came just one day after the Maharashtra Chief Minister Devendra Fadnavis announced disbursement of Rs.10,000 crop loan for the farmers.

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After Uttar Pradesh Chief Minister Yogi Adityanath announced a huge farm loan waiver, a number of other states including Maharashtra, Madhya Pradesh and Punjab have done the same.

Naidu also spoke on other issues that the NDA government is grappling with.

“See what happened to Air India; the government has no business to be in business.” Naidu said, adding, "Government needs to focus on healthcare, administration, education and basic amenities.”

“One more round of smart cities to be announced on Friday,” he added.

Meanwhile, a farmers protest in Maharashtra on Thursday morning turned violent on Thane-Badlapur highway as the protesting farmers said that their land is being acquired by the Ministry of Defence.

(With inputs from agencies)

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