Will Education loans be waived off by government? Nirmala Sitharaman responds!

Speaking of education loans, Finance Minister Nirmala Sitharaman has said that there is no plans to waiver off education loans, reports Puthiya Thalaimurai.

There is an economic slowdown in India now; hence, the growth has declined worse comparing to the past 6 years.

Last year the growth percent was 4.5, she said. Due to economic slowdown, unemployment has also increased in the country. According to CMIE, which monitors the Indian economy, the unemployment rate has increased to 7.5%.

Due to unemployment, it was rumoured that central government may waiver off the students loan but however Nirmala Sitharaman answered for a question in parliament that the pending fees for education loan has increased from Rs.67,685 crore to Rs.75,450 crore. The government has not considered waivering off now.