Former Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday claimed that the loan waivers for farmers actually go to the "best connected rather than the poorest".
He also underlined as to how it creates problems for the fiscal of the state too. "Certainly, there is a reason to discuss about farm distress but the question of whether the flows to farmers is best affected by waiving loans, after all this only a subset of farmers who get those loans and it often goes to the best connected rather than the most poorly off. It obviously creates enormous problems for the fiscal of the state once those waivers are done," Mr Rajan said at an event.
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