The great mega waiver !
Let me quote one more article ( from the current issue of BUSINESS TODAY, March 23, 2008 ; Page no. 16 )
“ Not Really Inclusive : In all the hype and hoopla over the massive giveaways in Budget 2008 – the Rs.60000 crore farm loan waiver , the restructuring of personal Income Tax slabs………… .. …
We are firmly with the Indian farmer, but we still beg to join issue with him (Fin Min). The Rs. 60000 crore loan waiver is a one-time arrangement. It does nothing to address the infrastructural and systemic issues that give rise to that indebtedness.”
…
The article then states reasons for the indebtedness and makes a few suggestions … ….
“ Encouraging investments in rural cold storage and logistic chains …
To build and recharge basic farm infrastructure like irrigation…
Public investments on such a massive scale on the farm sector would have helped create rural infrastructure and incomes, provided a fillip to the industrial growth and addressed the issue of inclusiveness. …. If properly administered, it can provide some immediate relief, but will it really help the farmer over the long term ? We don’t think so .”
This commonman’s view matches well with the above experts. Giving out huge money FREE to the farmers will bringout new issues.
Oh ! No, No.. Please don’t think I am anti-farmer ! We all, everyone and the Government, must help those poor farmers. They are the people feeding us. They are our “annadaata” (who gives food). They must be worshipped, and not alone helped.
But help should not be in this form. It's not going to benefit them, but going to trouble someone else.
Showing posts with label Loan waivers. Show all posts
Showing posts with label Loan waivers. Show all posts
March 14, 2008
The great mega waiver !
The great mega waiver !
Let me quote one more article ( from the current issue of BUSINESS TODAY, March 23, 2008 ; Page no. 16 )
“ Not Really Inclusive : In all the hype and hoopla over the massive giveaways in Budget 2008 – the Rs.60000 crore farm loan waiver , the restructuring of personal Income Tax slabs………… .. …
We are firmly with the Indian farmer, but we still beg to join issue with him (Fin Min). The Rs. 60000 crore loan waiver is a one-time arrangement. It does nothing to address the infrastructural and systemic issues that give rise to that indebtedness.”
…
The article then states reasons for the indebtedness and makes a few suggestions … ….
“ Encouraging investments in rural cold storage and logistic chains …
To build and recharge basic farm infrastructure like irrigation…
Public investments on such a massive scale on the farm sector would have helped create rural infrastructure and incomes, provided a fillip to the industrial growth and addressed the issue of inclusiveness. …. If properly administered, it can provide some immediate relief, but will it really help the farmer over the long term ? We don’t think so .”
This commonman’s view matches well with the above experts. Giving out huge money FREE to the farmers will bringout new issues.
Oh ! No, No.. Please don’t think I am anti-farmer ! We all, everyone and the Government, must help those poor farmers. They are the people feeding us. They are our “annadaata” (who gives food). They must be worshipped, not just help.
But help should not be in this form. Its not going to benefit them, but going to trouble someone else.
Let me quote one more article ( from the current issue of BUSINESS TODAY, March 23, 2008 ; Page no. 16 )
“ Not Really Inclusive : In all the hype and hoopla over the massive giveaways in Budget 2008 – the Rs.60000 crore farm loan waiver , the restructuring of personal Income Tax slabs………… .. …
We are firmly with the Indian farmer, but we still beg to join issue with him (Fin Min). The Rs. 60000 crore loan waiver is a one-time arrangement. It does nothing to address the infrastructural and systemic issues that give rise to that indebtedness.”
…
The article then states reasons for the indebtedness and makes a few suggestions … ….
“ Encouraging investments in rural cold storage and logistic chains …
To build and recharge basic farm infrastructure like irrigation…
Public investments on such a massive scale on the farm sector would have helped create rural infrastructure and incomes, provided a fillip to the industrial growth and addressed the issue of inclusiveness. …. If properly administered, it can provide some immediate relief, but will it really help the farmer over the long term ? We don’t think so .”
This commonman’s view matches well with the above experts. Giving out huge money FREE to the farmers will bringout new issues.
Oh ! No, No.. Please don’t think I am anti-farmer ! We all, everyone and the Government, must help those poor farmers. They are the people feeding us. They are our “annadaata” (who gives food). They must be worshipped, not just help.
But help should not be in this form. Its not going to benefit them, but going to trouble someone else.
March 13, 2008
"Daan karna hai"
I hope Monika Halan ( Last Note, Outlook Money, 15 March, 2008 ) won't mind if I quote her.
" The door bell rings. It is Radheysham, the Society guard, at 7 in the morning. He asks for 100 bucks. Why ? I asked incredulously. "Daan karna hai", he drawls, shifting his tobacco in his mouth.
Here is a guy asking me to pay for charity he wants to do to earn brownie points with his deity. Sounds bizarre ? Not if you are the Govt of India, looking at elections this year and have a Finance Minister adept at hiding the spots .....
The doles are : 40 million farmers will get Rs. 60000 Crore of their loans waived off. ......... Make no mistake, we will all pay ultimately for this borrowing......
The cynically political budget has given the poor man the fish to eat rather than become an opportunity to teach him how to fish. ..........
""
Now, let me quote Mohit Satyanand ( Be on your guard this year, Outlook Money, 15 March, 2008 )
" Much of the FM's speech was devoted to the agricultural sector, and he doled out large chunks of cash ( ours, I guess) to forgive Agricultural loans. If it makes him feel like Mother Teresa, doling out relief and succour to the suffering masses, so be it. .... this does nothing to tackle the structural problems of Indian agriculture. ..... Indian agriculture will remain plagued , and just as the 'loan melas' of yester year predictably led to loan waivers, we will see more frequent and more magnanimous gestures to Indian farmers which are unproductive, at best. .........
"
Did you get the message ? Loan waivers are certainly not the way to help the poor.
" The door bell rings. It is Radheysham, the Society guard, at 7 in the morning. He asks for 100 bucks. Why ? I asked incredulously. "Daan karna hai", he drawls, shifting his tobacco in his mouth.
Here is a guy asking me to pay for charity he wants to do to earn brownie points with his deity. Sounds bizarre ? Not if you are the Govt of India, looking at elections this year and have a Finance Minister adept at hiding the spots .....
The doles are : 40 million farmers will get Rs. 60000 Crore of their loans waived off. ......... Make no mistake, we will all pay ultimately for this borrowing......
The cynically political budget has given the poor man the fish to eat rather than become an opportunity to teach him how to fish. ..........
""
Now, let me quote Mohit Satyanand ( Be on your guard this year, Outlook Money, 15 March, 2008 )
" Much of the FM's speech was devoted to the agricultural sector, and he doled out large chunks of cash ( ours, I guess) to forgive Agricultural loans. If it makes him feel like Mother Teresa, doling out relief and succour to the suffering masses, so be it. .... this does nothing to tackle the structural problems of Indian agriculture. ..... Indian agriculture will remain plagued , and just as the 'loan melas' of yester year predictably led to loan waivers, we will see more frequent and more magnanimous gestures to Indian farmers which are unproductive, at best. .........
"
Did you get the message ? Loan waivers are certainly not the way to help the poor.
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