Niti Aayog member Ramesh Chand on Friday said there are more effective ways to deal with problems of farmers than loan waivers which benefit only a fraction of agriculturists. States including UP, Maharashtra have announced farm loan waivers adding up to Rs 1.3 lakh crore or 0.8 per cent of GDP this fiscal. “If you look at institutional loan, then there is a very tiny percentage of farmers who take loan. “Niti Aayog has taken this position. There are much more effective ways to address problems of farmers rather than going for this loan waiver. Very small fraction of farmers get benefit of loan waiver,” Chand said.