NEW DELHI: India has begun work on a universal debt relief scheme for small borrowers aimed at micro enterprises, small farmers and artisans, which should be ready for implementation when the next government is in place.
Individuals below a specified income and asset threshold will be eligible for debt relief. People with annual income of Rs 60,000 or less, outstanding loans of Rs 35,000 or less, and assets worth Rs 20,000 or less may be eligible.
This will be a well-structured loan waiver programme across sectors for small farmers, artisans, microenterprises or other individuals, corporate affairs secretary Injeti Srinivas told ET. It will be a universal debt relief scheme for the poor.
The scheme, which is being worked on by the Minist…
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