T.N. election: AIADMK’s promise of crop loan waiver raises questions of feasibility

AIADMK’s election promise to waive loans taken through cooperative institutions has raised the question of feasibility following directions from the Reserve Bank of India (RBI).

AIADMK’s scheme covers crop loans taken by farmers from primary agricultural credit cooperative societies (PACCS) and loans taken by disabled people and pavement vendors from cooperative banks. Although the ruling DMK remained silent on the issue of crop loan waiver this time, it had assured about it five years ago.