Devi Lal said that if the people will make his party this time, he would waive the loan of the farmers and small middle class persons(businessman).
This was happened in the year 1987 when Devi Lal won the elections.

Devi Lal, the former Deputy Prime Minister of India, made several promises to the farmers and small businessmen during his political career. One of the key promises he made was to waive the loans of farmers and small businessmen. This promise aimed to provide relief to these individuals who were burdened with heavy debts and struggling to make ends meet.

Explanation:

Waiving loans:
Devi Lal promised to waive the loans of farmers and small businessmen. This meant that the outstanding debts of these individuals, typically taken from banks or other financial institutions, would be forgiven. By doing so, Devi Lal intended to alleviate the financial stress and difficulties faced by farmers and small businessmen.

Reason behind the promise:
The agricultural sector in India is highly dependent on loans for various purposes such as purchasing seeds, fertilizers, machinery, or meeting other expenses. However, due to various factors such as crop failure, low prices, or natural calamities, farmers often find it challenging to repay their loans. Similarly, small businessmen face similar difficulties in repaying their loans, which affects their ability to grow and sustain their businesses. Devi Lal recognized these issues and promised to address them by waiving the loans.

Impact on farmers and small businessmen:
The promise to waive loans would have had a significant impact on the lives of farmers and small businessmen. Loan waivers would have relieved them of their debt burden and allowed them to start anew. With the financial burden lifted, farmers and small businessmen could invest in their businesses, purchase essential equipment or machinery, and improve their overall productivity. This, in turn, would have contributed to the growth of the agricultural sector and the economy as a whole.

Conclusion:
Devi Lal's promise to waive the loans of farmers and small businessmen was a gesture aimed at providing financial relief and support to these individuals. By implementing this promise, he intended to alleviate the debt burden and improve the economic condition of the farming and small business communities. However, it is important to note that the effectiveness and implementation of such promises can vary, and it is crucial for policymakers to consider sustainable and comprehensive solutions to address the challenges faced by these sectors.