NEW DELHI: Farm loan waiver is necessary in the short term as farmers are unable to repay debts due to fall in agri-prices despite a bumper crop, renowned agriculture scientist MS Swaminathan has said.However in the long term, loan waiver does not provide secure credit system as this would lead to inadequate funds for agri-infrastructure development, he tweeted.Uttar Pradesh and Maharashtra governments have announced farm loan waivers, while farmers are demanding the same in Madhya Pradesh. "Loan waivers though temporarily necessary, don't provide secure long-term credit system. Though there is a bumper crop this year, farmers are "dissatisfied with procurement price and unable to repay institutional and private loans," he said.Without repaying debts, farmers will not get fresh kharif credit. This is why they want loan waivers as well as remunerative procurement price, he observed.Praising the government for farm initiatives, Swaminathan tweeted, "The Modi Govt has implemented several Farmers' Commission recommendations. These include providing improved seeds, soil health cards.

Source: Times of India June 13, 2017 16:36 UTC