The generonosity of the farm loan waiver!

I didn’t think I was going to write on specific political topics, because it’s usually not possible to conduct complete research to be able to address all arguments. And without research, I can’t critique, but only allege.

I’ve been discussing or hearing about the farmer loan waiver issue, that’s been seen my some of my naive friends as a generous large-hearted move by our dear congress government! Decided to explore a lil bit, got some understanding from my political guide, and rest was easy to figure out, to let me have my own view on it.

In a nutshell, to me, it’s like giving fish to people, never teaching them how to fish, so they’ll keep coming back to you to get fish every day. Simple loyalty till perpetuity! So the congress makes sure the poor stay poor and keep voting them back to power! (No wonder, they don’t care so much about their urban taxpayer or educated audience, we’re irrelevant!) Appropriately, the congress webpage on this issue, is titled

CONGRESS KA HAATH

ANNADATA KE SAATH

Seems ironic to me, that the hand seems to be holding the annadata back from making any progress, in 60 years of independence. A waiver, is spent money written off, not like a better system for the future.  I’d not be surprised, if we find ourselves in a similar need-to-write-off situation again in a year or two!

My friend has a somewhat crass way of putting it across. Go outside a random temple and give 100 bucks to a beggar, in all probability, in three days, he’ll be again begging at the same spot.

The Congress on its website says, since the economy grew at 9% per annum under their able leadership, it was rather easy to pull out 72,000 Cr. to waive off these loans.  Perhaps it was loose change lying in their pockets! Something I did really like about the whole thing, was the simplicity, again from AICC website :

There is no application, no certification, no documents to be attached, nothing.

Easy, come and take it. Now, it’s only left to the imagination, how much of the 72,000 Cr. really reached the farmers! Of course, the banks in the game, made a fortune, by including the loans that were repaid, into defaults. And there’s no audit on the process!

The loan waiver could only affect people who had access to institutional credit(23% of all farmers), and the ones commiting suicides are the ones who had borrowed from local moneylenders at high rates and whose lives were made miserable by these lenders day in and day out.

No wonder the suicides continued at their own pace 7 farmers continued to kill themselves each day, even after the waiver announcement.

And lets not talk about the farmer who felt like a fool for having repaid the loan in time, when everyone else got away with a waiver! As a rule, no farmer shall want to repay a loan anymore, (Haath haina) entirely destabilizing the prospects of the entire farm credit sector.

And we have our oh-so-sweet Rahul Gandhi taking an oh-so-noble stand

Freedom from poverty is not a matter of charity or luck; it is a right – Rahul Gandhi, AICC General Secretary

So while the economists were completely confounded with the fiscal profilgacy, the taxpayer felt helpless, my naive young friends, who felt disturbed by the farmer suicides, feel proud that their leaders are generous enough (at the taxpayer’s cost of course, unless congress has a goldmine in its backyard) to take good care of the poor Indian!

And well, it’s not just me talking, if you really want to have an informed opinion about it,

This is what Rediff picked from Business Standard

And, here’s a really nice one from the guys at Mutiny.in

And GVL Narsimha Rao writes the Bottomline in mint, to bring out the truth, that the move was to appease the unhappy farmers, who were unhappy for the wheat import at exorbitant prices!

And for a somewhat politically neutral pavilion, you might read Offstumped

So what happens next, the congress might have won the vote bank of the farmers, so it can comfortably ingore the itch that the tax payer felt with its largesse. And anyway, there’ll be some large hearted people who’ll buy the congress reasoning and vote them back!

If you’re convinced, with me or any of the links I posted, please spread the word. Unfortunately, there are quite a few ill-informed educated people in our country! The congress is appeasing it’s vote bank and till the sensible tax payers get together to call their bluff….

It’s time YOU need to act!

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