SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD DEC 04
MCX SILVER DEC 04
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD DEC 04
MCX SILVER DEC 04
MCX CRUDEOIL NOV 19
MCX NATURALGAS OCT 27
USD/INR
EUR/INR
GBP/INR
JPY/INR

Market snaps 4-day gaining streak; Sensex falls 148 points

Global Markets: Shares down, dollar ticks up as US stimulus talks drag

See world oil demand peaking in 2030, says IHS Markit's Daniel Yergin

Rupee settles 4 paise higher at 73.54 against US dollar

Economy

PM Modi likely to take bigger steps for farmers than all-India loan waiver, says ICRIER's Ashok Gulati

Updated : January 16, 2019 02:40 PM IST

It likely that the PM would do something more innovative and bigger than all-India loan waiver: Gulati

Loan waiver at national level could be around Rs 4-5 lakh crore, if one were to cut corners: Gulati

CNBC-TV18 has learnt that the government is considering relief measures for farmers, which includes a higher minimum support price (MSP) for some crops, improvements to the Fasal Bima Yojana and a income package.

To discuss what works best for the farmers, CNBC-TV18 spoke with Dr Ashok Gulati, Chair Professor Agriculture, ICRIER.

"The quick fix that can be done within 3 months is primarily big announcements but how of much of that can be operationalized and distributed within 3 months is doubtful."

According to him, "The government did announce MSPs but some commodity prices are still 20-40 percent below market prices. So, the PM’s Asha Scheme has not really taken off."

"It likely that the PM would do something more innovative and bigger than all-India loan waiver," said Gulati. He said if the opposition party is announcing total loan waiver then just postponement of loan payments by one-year would not get the ruling party enough votes.

Talking about the other options, Gulati said, “One thing the Centre can do is invite states. It can be a joint responsibility that the Centre is going to announce a package and those state governments, which are ready to join in this package -- the Centre can say they will give 50-60-70 percent of the cost but the states will have to update the land records.”

“I would also go a step further and say that bring and announce fertilizer and power subsidy of the states also onto the same package. So that you have major step forward in that direction but it will not be distributed in the next 2-3 months. It will be an announcement and then assurance that as you update the land records and if agricultural labourers are included then records have to be created and also need to be linked to Aadhaar, so we know how much is going in each account,” said Gulati.

According to him, "Loan waiver at national level could be around Rs 4-5 lakh crore, if one were to cut corners."

Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.

You May Also Like

Hong Kong fines Goldman Sachs Asia $350 million over 1MDB

Hong Kong fines Goldman Sachs Asia $350 million over 1MDB

Asian Paints Q2 beats estimates; net profit rises 1% to Rs 851 crore and margin improves

Asian Paints Q2 beats estimates; net profit rises 1% to Rs 851 crore and margin improves

Bajaj Auto Q2 net profit falls 19% YoY to Rs 1,138.2 crore; Revenue down 7%

Bajaj Auto Q2 net profit falls 19% YoY to Rs 1,138.2 crore; Revenue down 7%

Trending on CNBC-TV18

Live TV

recommended for you