Budget 2024: No matter how justified, giveaways like farm loan waivers create a moral hazard. While these promises don't affect banks that loaned the money - as GoI picks up the tab - it incentivises non-payment of dues. Those who repaid feel cheated. Together, these factors undermine credit culture. The exchequer adds to its debt burden or is forced to cut back on other spending priorities. Read The Rest at :
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