Live within your means

My compliments for the interesting and forthright editorial, “Ballooning state debt” (July 20). The Uttar Pradesh government’s move to waive farmers’ loans to the tune of Rs 36,000 crore was a disastrous step. One didn’t have to be an economist or an astrologer to predict that this would be followed by a spate of waivers in other states. Punjab and Maharashtra have followed suit and more states are perhaps waiting in the wings. 

Loan waiver is akin to one-time firefighting. It can’t solve the problems of farmers. It can’t improve their incomes. Several expert committee reports have prepared blueprints for improving