The boot or a boost for the agriculture?

The Indian economy is one of the most resurgent economies of this world and one can say that the whole world was watching the Indian budget showdown yesterday. One of the highlights or should I say that the whole budget was about was the loan waiver that was being offered to all the farmers in India.
What has come as a surprise to one and many is this waiver of loans as they are bound to have negative effects on the economy as a whole. What one is worried about is the impact on the banks as they already have enough on their plates. 2007 was one bad year for the banks worldwide and the announcement of the waiver has made things even worse for the Indian banks.
But all is not gold yet as the farmers in the Vidarbha region are yet to get any relief as a result of these new policies.