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Waiving Agricultural Loans Could Drop GDP by 2%: Arvind Subramanian
April 26, 2017
Arvind Subramanian, Chief Economic Advisor, has expressed his concerns over the recent farmers’ loans waiving by the government. He says that this practice could cost us as much as 2% GDP, especially since it is spreading widely lately.
Subramanian said that waiving of the loans by the government can pose a huge challenge, as he expressed his disagreement with the recent move by UP Chief Minister Yogi Adityanath to waive the farmers’ loans worth Rs 36,000 crore in the state.
