States to pay for loan waiver: Jaitley

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On the farm loan waiver announced by the Maharashtra government, Finance Minister Arun Jaitley made it clear that states which want to go in for waiver will have to generate funds from their own resources.

New Delhi: Amid growing demand for a farm loan waiver in many states, Jaitley on June 12 made it clear that states will have to give it from their own resources and Center can’t pitch in.
“I have already made the position clear that states which want to go in for these kind of schemes (farm loan waivers) will have to generate them from their own resources. Beyond that the central government has nothing more to say,” Jaitley said.
Earlier Arun Jaitley had clarified that beyond what has been recommended by the 14th Finance Commission to be the share of states in the central revenue, Center cant give any more money.
The Modi government had accepted 14th finance commission recommendations to increase states share in the central taxes by a record 10 percent to 42 percent .
Under pressure from farmer groups, Maharashtra government on Sunday announced a farm debt waiver in the state. MP is seeing violet protests in last few days from farmers demanding a waiver on loans.

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