Centre may announce ₹4 lakh crore of farm loan waivers: Reports

Ahead of the general election, the government is likely to announce farm loan waivers worth up to ₹4 lakh crore ($55.5 billion), according to reports. The previous Congress party-led coalition government announced farm loan waivers worth nearly ₹72,000 crore in 2008. Notably, BJP has lost power to Congress in Rajasthan, Madhya Pradesh and Chhattisgarh in the recently concluded Assembly Elections.