India has waived off â¹3.1 lakh crore in farm loans till date
India has waived off a cumulative â¹3.1 lakh crore ($49.1 billion) in farm loans till date, a report by data journalism firm IndiaSpend has revealed. The amount is 2.6% of the country's GDP in 2016-17, or 16 times the amount sanctioned for rural roads in 2016-17. However, waivers have had little to no impact on farmer suicides, the study revealed.