Karnataka has already reduced the agri loan interest to 1%, hope center also does the same thing. But on other hand, these loans should not be useed by the farmers to marry their kids etc. it should go to farming.
The Govt Officials in charge of disbursing these loans must be drooling. The farmer can get this loan if he pays a bribe = 40% of the loan amount. With just 60% of the loan, he will struggle as usual to repay his debt and his life will not improve in anyway. Meanwhile, the officials will grow fatter on the bribe money, buy more residential plots to secure their children's future, the wife will buy diamonds and they will go on a Singapore cruise. And life in India goes on as usual...
No use unless you educate your farmers..with thumb impression they cannot ascertain whether they paid 4% or 40% interest.The new announcement will benefit government bank managers as they can take a cut for each loan disbursed...
Re: Re: No use
by martin descent on Mar 01, 2011 05:46 AM
Why now ? because we are going to have elections again in less than an year? Move is well appreciated but should have been done earlier.
99% farmers are our said so politicians.They will borrow funds and then waive off loans so double blow to our tax paid money.please correct me if any thing i said is wrong.
This will only open the flood gates of scams and scandals.While the dumb farmers would be ignorant about it,the crooks impersonating as farmers would make a fast buck out of it by means of arbitrage gains.
