A petition has been filed in Supreme Court on Wednesday seeking a direction from the Top Court that political parties shouldn’t be allowed to offer loan waiving schemes in the poll manifesto. The Petition further said that Top Court should also restrict political parties from announcing aby any monetary schemes too in the poll manifesto.
A Petition filed in the Highest Court states that such loan waiver schemes used public money and can a have an adverse effect in the economy of the country. A petition filed by Advocate Reena N Singh also said that instead of focusing of farm loan waivers, Centre and State governments should focus on the formulation of such agricultural policy that would help the farmers to become financially prosperous and make the agricultural financially sound.
A petition has been filed in Supreme Court seeking direction that political parties shouldn't be permitted to offer loan waiving schemes or any other monetary schemes in their election manifestos. PIL said Centre & State govt should not be permitted to reduce or waive off loans.
— ANI (@ANI) April 17, 2019
Top Court Bench headed by SA Bobde will hear the petition on April 22.
The petition filed by the Advocate Reena N Singh said reads, “The political parties are offering loan waiver schemes in their election manifesto for their political motives by ignoring the negative effects of loan waivers on the economy, as they are using the offer of
manipulation of the public fund as a tool to achieve their political motives to come to power. The Centre and state governments should not be permitted to reduce or waive off loans.”
It should be noted that in run-up elections, both the national parties BJP and INC have promised Farm Loan Waiver Schemes and other financial assistance Schemes. Many State governments time-to-time have announced farm loan waivers in a bid to get political mileage.
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