Odisha Chief Minister Naveen Patnaik has proposed to Prime Minister Narendra Modi that a national policy on loan waivers be formulated in order to relieve the farmers from the agrarian distress.

"In order to relieve the farmers from the agrarian distress, we should have a National Policy on Loan Waiver. The state government would be willing to support any initiative taken by the Central government in this direction," he said in a letter to the Prime Minister, a copy of which was released to media on Monday.