the recent buget indicates only 4 crore farmer & what about remaing farmer? what they will get from the goverment? what are the positive point for them? how they will surview? who will think about they? why should only these farmer are able to get benifit? why all farmernot get the benfite? ans these quetion,,,,,,,,,,,
It is clear that the Government is not paying any substantial portion of this Waiver, anyway. A major portion of the loan were already written off by the Banks due to stricter Bad Debt Reporting Regime of the Reserve Bank in last three years or so. So that much has already been absorbed from the grants from Government and internal policies of individual Banks.
But to the borrowers, the amount overdue was always there. THIS is WAIVED. And not the money that is being regularly paid by able and willing farmers.
Only the Announcement is made by the FM on Budget Day, clubbing the Written Off Cumulative Amount. Because the Election is on the horizon. Do not Blame him.
I am not telling as to what the ethics says and what it does not. For those who pay are not given any freebies and those who paid their instalments honestly, did get nothing extra.
But that Rs. 30,000 CRORE is a big money. And this Contribution to the Coffer will soon be done, in Four Straight Months, by FARMERS !!! Defaulting - Nonetheless.
It would be naive of us to think that the Prime Minister and the Finance Minister did not have done their homework before announcing such a Big Thing involving such a huge amount that at the outset looks to upturn the entire gains they have made out for the Indian Economy in all these years.
In fact, it was a painstaking last 4 years during which they have made the whole arrangements. And the entire Rs. 60,000 Crore has already been provisioned for. Otherwise the FM would sure to have kept some money for it in this Budget. Let us have a look at the previous Budgets, and we will get the answer.
Rs. 60,000 Crore is a big money and unless it is handled properly the entire economy would be doomed. We do not have people running our government, who are dumb enough to do such a blunder. And marking such an huge amount for a unproductive work, does not make any sense.
You can get a glimpse of confidence in his answers to the question of arranging funding for the waiver. His smiles tell tell us the entire story.
I would like my friends over here to keep a track on the things that is going to unveil in coming days. Things are exactly as I am mentioning here in these columns. It surely be naive of me if it comes out to be something completely different.
Contrary to majority belief, this move will bring into the Banking Sector, Rs. 30,000 Crore from FARMERS ! ! ! Defaulting Nonetheless.
Close on the heels of the good budget presented by the railways minister,finance minister Mr Chidambaram too, this time, presented a popular budget acceptable to all segments of tax payers-may be keeping in view the imperatine need for winning the ensuing general elections and to woo the voters on that count. Whatever be the reasons,Mr. Chidambaram helped people of moderate income such as the salaried employees,retired people,women and senior citizens.It is a notable feature that he made an attempt to realise the need for relief to the farmer sector which had been neglected all these years-at least during the last past decade.However waiver of all debts by the small farmers appears to only catch the votes of the rural folk majority of whom are petty peasants.Education has been given due importance and setting up of new IITs is a welcome step.Chidambaram appears to be very conscious of people's health as is evident from the holiday period to be allowed to the new hospitals being set up and the deterrent rise in tax on cigarettes ruthlessly to discourage and dissuade the smokers.Over all,to be fair to Mr.Chidambaram,it is a welfare budget which could be hailed by majority section of the people.We must thank the finance minister at least for once.However my genuine fears are that he would not revise the budget provisions immediately after elections to the disadvantage of people in the name of unforeseen deficits.
Mr. Chidambaram, while visiting Kerala a few weeks back declared that FACT will be amalgamated to some other companies with a view to improve the productivity. What happened to this declaration?. Just oiling the people or what?
2008 Budget is the best Budget in Indian History. FM Farm loan waiver is a very good move for India's progress. India Agriculture sectors accounted for 18.0% - 20.0% of the Indian GDP, and It employed 60% of the total Indian workforce.
Congress has just bought votes of 4 crore farmers and their family members.. and guess who foots the bill.... ordinary hardworking middleclass ppl like us. Loan waivers, reservations etc are the populist measures which congress adopts, at the cost of the common man. Why not improve agri-infrastructure? 60k crores... wow... India was never poor.. it was made poor politicians for their own gains. They dont want Indians to be poor/uneducated.. otherwise how will they rule over us.
