There are several readers here and several million outside who are very much dejected by the loan waiver move of the government. And there are several million who, though supported the scheme either wholeheartedly or for an argument sake, are convinced that as a whole this scheme is detriment to the Economy. The Fact is Far Far away from these all.
This move will Bring into the Economy a whopping 5% of the ENTIRE BUDGET. That too with in a span of 3 MONTHS !!!
Firstly, by offering a waiver of OVERDUE loan of small and marginal farmers, which has already been provisioned for in all these times by Banks, by stricter dictation by the Reserve Bank on the entire financial spectrum, the burden on the economy will practically be marginal, if at all it is.
When he said the same for other farmers, his raider was that they deposit 75% of the OVERDUE amount, and not the DUE amount, he is in fact bringing in that 75%, which would otherwise have already been considered by these poor Public Sector Banks as LOST. By provisioning Rs. 10,000 Crore that was there already, he is targeting to get Rs. 30,000 CRORE, which he was hopeless to recover from those farmers anyway. A net gain of Rs. 30,000 Crore. These, otherwise capable farmers, will get the money from whatever source that are available to them. This money would have been remaining untapped eternally.
Would You say now that Chidambaram is a dumb fellow?
If government increase wages to government employees , then all of them getting benefit.
If government anonunces bonus for government employees , then all of them getting benefit.
If government anonunces agriculture Loan Waiver scheme, Do you think that all of them getting benefit?
In our country almost 60 % of peoples are depending on agriculture. How many farmers will get benefit out of this scheme?
Instead of Waiving 60000 crore loan , government colud have considered some other things to get all the farmers benefit. Like fixing the minimum price for their products (Paddy, Groundnut , etc...) as already the ariculture is going down.
I am sure this will not save any farmers suiside death in our country.
Infact I am the farmer.I do not like Agriculture Loan Waiver scheme in this budget.
It is absolutely to get vote from farmers. Congress may get only 4 crore farmers vote for their Loan Waiver scheme but waht about rest of the farmers....
RE:Agriculture Loan Waiver - Stupid decision
by manoar PUTTASWAMY on Mar 01, 2008 01:13 PM
hello Mr, i think ur not Former son, so ur saying like this, u once come our of ur office or ur system and c how much difficulitey to work in agricalutre land, all former workg day n night even after one year they wil grow sugercan and paddy.... other thinks lastely they don't have sutialble rate sale their product, so atleast formers geting Loan waiver in this time so atleast they can sarview sometime. we are requesting to our FM to fix the minmium price of our agriculature products.
And for ur MESSEGE 'U CAN'T LEAVE WITH OUT FOOD ONE DAY' AND C FORMER HOW MUCH HARDWORIKING FOR GROWING AG CROPES. AND ALLSO OUR AG.
RE:Agriculture Loan Waiver - Stupid decision
by atul suraiya on Mar 01, 2008 10:28 AM
Those who are inefficient, have bad intentions, enjoy life at the cost of others money are beneficiaries. Those who are honest, efficient, conscious that they have to repay and have repaid part of the dues, have no benefit. Spare the rod, spoil the child!!
RE:RE:Agriculture Loan Waiver - Stupid decision
by anand kumar on Mar 01, 2008 12:25 PM
Indeed some provision should be made to appreciate those who are honest and paided their due..
Hats off to our FM. He has done a great job. Only one request to you Mr FM, make sure the benefits goes to the end users and not in a few corrupt politicians. --- Praphulla Gaikwad, Pune
Hey guys one question, are there any thing going to change after budget?.....just think and figure out how everything are scattered in india. Have you ever find standard pricing...any standards for anything... There is no point disuccussing here. Citizens need to change their attitude. Rules needs to form and place UN CURRUPTED system so that people follow it...(highly impossible bcos in India people feel proude when they broken any serious rule even.) Gove needs to transperent.....Require uniform civil code.....all require to treated equally including politicians....Law should be above all and so strict that abider should fear all the time....require ground level education to un-educated people atleast to certain level otherwise after 50 year we will be similar... India is counting on Hafta... Aiyashi... Dirty/Currupted Politicians Currepted Police deparment Currepted Government Currepted common mcitizen..
Nobody want to work but want everything for nothing....
Always start comparing with Western nations...
How this county can be progress..?
Wake up all citizens........ Nobody is stands for nothing....make the system and allow them to work... chage your attitude.....
Unless we Indians understand the concept of smaller government, I find it difficult to be optimistic about a change in our daily lives.
Think about it, - The government is the biggest employer in the country - The government does NOT make any money, it collects money and then spends it in an un-wisely fashion (I am saying that in a very polite way)
We are still living in this seudo-communist state, where we think government is the solution to all problems. When infact, government is the root of all problems.
I will not blame any government here. It is the nature of the Beast. It is not the right institute to solve our nations problems.
Government will always pander to get votes, because it is a political outfit. We need less government and more private firms.
Private firms run on profits, THE BOTTOM LINE. They have benchmarks They are accountable They have to make profits (Share Holder investment) They are LESS prone to corruption They have leadership that is not pandering to any voting block They encourage competition, eventually to the benefit of the consumer They do NOT have reservations They reward hard work They FIRE lazy people
Agree, private firms cannot do everything. The nations defense, Tax collection, Judiciary and some other functions need to be with the government. Nothing more than that.
A bigger government is a recipie for discrimination, exploitation, corruption and FAILURE.
Overall a nice budget it seems. PC did his job well. We are looking at only one angle of Loan Waivers. It is a populist move but seems to be a smart view based on the arguments below by Mr Lalatendu Deo. Lets see what happens. DR's Service Tax increase will be passed on to the patients and I dont think the Doctors or Patients can avoid it. Also the IT Exemption is a very good idea as it will leave people below 1.5 L PA more money to better their lives. Nice budget overall from my point of view.
There are several readers here and several million outside who are very much dejected by the loan waiver move of the government. And there are several million who, though supported the scheme either wholeheartedly or for an argument sake, are convinced that as a whole this scheme is detriment to the Economy. The Fact is Far Far away from these all.
This move will Bring into the Economy a whopping 5% of the ENTIRE BUDGET. That too with in a span of 3 MONTHS !!!
Firstly, by offering a waiver of OVERDUE loan of small and marginal farmers, which has already been provisioned for in all these time by Banks, by stricter dictation by the Reserve Bank on the entire financial spectrum, the burden on the economy will practically be marginal, if at all it is.
When he said the same for other farmers, his raider was that they deposit 75% of the OVERDUE amount, and not the DUE amount, he is in fact bringing in that 75%, which would otherwise have already been considered by these poor Public Sector Banks as LOST. By provisioning Rs. 10,000 Crore that was there already, he is targeting to get Rs. 30,000 CRORE, which he was hopeless to recover from those farmers anyway. A net gain of Rs. 30,000 Crore. These, otherwise capable farmers, will get the money from whatever source that are available to them. This money would have been remaining untapped eternally.
Would You say now that Chidambaram is a dumb fellow?
RE:Agriculture Loan Waiver - A Cleaver Move
by Ramasubramaniam Iyer on Mar 01, 2008 12:35 AM
Nice Analysis. But I hope our freinds in this forum read more in detail as to what the budget entails
Everyone from Left to Right has a view point and we should respect that but a very nice analysis. Its again a gamble taken by PC. And being Finance Minister of India requires lot of talent even if you are trying to fool 1 Billion people
RE:Agriculture Loan Waiver - A Cleaver Move
by Lalatendu Deo on Mar 01, 2008 08:34 AM
The earning is about one third of the Defence Outlay, as well.
When he was asked as to how we would be getting this money from by a TV anchor, he was very cleaver in avoiding to answer directly. But the smile told us all.
this is totally an election budget. each politician will give 5 crores as bribe to make up 6000 crores to wave off the farmers loans, in turn they will earn more crores after they win.But has anything been done to reduce the ever rising commodoty prices... dr sumanth prasad wardha
this is totally an election budget. each politician will give 5 crores as bribe to make up 6000 crores to wave off the farmers loans, in turn they will earn more crores after they win.But has anything been done to reduce the ever rising commodoty prices... dr sumanth prasad wardha
