International media reacts to farm loan waiver with shock, disbelief, surprise and also some sympathy !!

andhra farm loan waiverFarm loan waiver programs being undertaken by Andhra and Telangana governments have evoked all kinds of reactions even at home. While economists and bankers react to it with disdain calling it a dangerous trend, many others are sympathetic to the farmers’ cause if not to the path chosen by the two governments to alleviate farmer distress.

In this backdrop, it is interesting to see how the international media is reacting to it. India is being followed abroad with a lot of curiosity and it is natural that a huge revenue-guzzling program like farm loan waiver too catches the international media attention. Here is a snapshot of some of the reactions.

Bloomberg: Big farmers too get cash- no country for poor men!!

Bloomberg story tracks the farmer distress but emphasises on the absurdity of even rich farmers getting waiver and tracks its impact on the banking sector and its effect on the repayment discipline. Read the Bloomberg story HERE. Or download a pdf of the report HERE.

Al-Jazeera: Costly, but only way to prevent collapse of the small farmer

Al-jazeera takes a more sympathetic view. Says that it is costly for the state governments but is probably the only way to prevent collapse of the small farmer community. READ the Al-Jazeera report HERE. or Download a pdf of the Al-Jazeera report HERE. 

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