Chief Economic Advisor Arvind Subramanian has expressed concern over the recent waiving of farmers’ loans by state governments in India, saying it could increase the deficit by two per cent of the GDP if the practice is carried out nationwide. “We’ve had a spate of announcements recently about agricultural loans being waived off. You know these could cost, if it were to spread, these could cost something like two per cent of GDP, adding to the deficit,” Subramanian told an audience here last week.“If these things spreads as is possible. So I think that’s a kind of big challenge,” he said in an apparent disagreement of the recent move by Uttar Pradesh Chief Minister Yogi Adityanath to waive agricultural loans worth Rs 36,000 crore in the state.