Loan waiver should not be part of poll promises:Raghuram Rajan

Former RBI governor Raghuram Rajan said farm loan waiver should not form part of poll promises and has written to Election Commission that such issues should be taken off the table.

It not only inhibits investment in the farm sector but also puts pressure on the finances of states  which undertake farm loan waiver,he said.

Loan waiver vitiates the credit culture ,he said.

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