Centre rules out farm loan waivers, Jaitley says will stick to fiscal targets | india-news | Hindustan Times
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Centre rules out farm loan waivers, Jaitley says will stick to fiscal targets

Finance Minister Arun Jaitley said he would not comment on the loan waivers by states.

india Updated: Jun 20, 2017 15:10 IST
(Reuters File Photo)

Finance Minister Arun Jaitley on Tuesday ruled out any waiver of farm loan and said the Centre will adhere to fiscal targets. The remark came as Punjab became the third state after Uttar Pradesh and Maharashtra to announce waiver of loans given to farmers.

Replying to questions from reporters, Jaitley said the Centre is not considering any such plan.

The government had in 2008 waived farm loan to the tune of Rs 74,000 crore.

The Centre, Jaitley said, will adhere to all fiscal targets including fiscal deficit. He said he would not comment on the loan waivers by states and had already made his position clear last week.

On June 12, Jaitley had said the Centre will not fund any of the loan waivers by states and they will have to find their own funds for doing so.

“I have already made the position clear that states which want to go in for these kind of schemes (farm loan waivers) will have to generate them from their own resources. Beyond that the central government has nothing more to say,” he said.