SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD AUG 05
MCX SILVER JUL 03
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD AUG 05
MCX SILVER JUL 03
MCX CRUDEOIL JUL 20
MCX NATURALGAS JUL 28
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Market ends higher for third straight week led by auto, IT stocks; Eicher Motors top gainer, ends over 4%

Asian shares hit four-month high as US, China recoveries gather pace

Gold rate today: Yellow metal trades flat; Analysts suggest buy on dips for a target of Rs 48,400 per 10 grams

Rupee jumps 56 paise to settle at 75.04 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

Odisha to provide Rs 1,040 crore credit to 7 lakh landless farmers

Odisha to provide Rs 1,040 crore credit to 7 lakh landless farmers

Over 2 crore N95 masks, 1.18 crore PPE kits, 11,000 ventilators supplied to states, UTs since Apr 1: Govt

Over 2 crore N95 masks, 1.18 crore PPE kits, 11,000 ventilators supplied to states, UTs since Apr 1: Govt

Intel to invest Rs 1,895 crore in Jio Platforms for 0.39% stake

Intel to invest Rs 1,895 crore in Jio Platforms for 0.39% stake

Trending on CNBC-TV18

Live TV

recommended for you