Most of the farmers are defaulters in paying back the loans. Now it has become a permanent problem and permanent feature of Government to announce loan waivers particularly at the time of elections.
The Reserve Bank of India and entire banking system are suggesting the Government that loan waiving is not a good practice and it will ruin the economy. The farmers will become habitual of such “write off” and will never pay.
The Madhya Pradesh Chief Minister Mr.Shivraj Singh Chouhan who devised a new scheme of Bhavantar to deal with the problem of crop marketing has also now devised a scheme of “Samadhan Yojna” for defaulter famers.
Under this scheme a defaulter farmer can pay the principle amount of the loan in installment without any interest. It is a matter of giving credit to Mr.Chouhan that he has not followed the evil practice of loan waiving and instead of it give facility of not paying interest on loan if they pay principle amounts.
