Saturday, March 1, 2008

Loan waiver : just a brain wash

Loan waiver announced to small and medium sized farmers are just a political gimmick to secure the poor farmers vote bank.
Is the real need of our poor farmers a loan waiver??? No not at all, a loan waiver can improve their situation but for how long Mr.Chidambaram. Can the Government of India waive the loans every year or in a much simplified way can there be a Central elections every year???
Our farmers need a price for what they grow, they need better seeds, better fertilizers....... Can a loan waiver account for all these things. There should be establishment of more and more cooperative societies and institutions which help the farmers.
Unfortunately our most popular liberal finance minister is not listening to the real cause of farmers suicide. He is just following the rules of globalisation and vote bank politics.
Loan waiver is never a permanent solution.... We must empower our farmers so that they have maximum productivity and they are able to be financially strong.....
What should the farmers do the next year if they dont get harvest or dont get the minimum price? Should they wait for another loan waiver???
I wonder why our finance minister is not implementing the basic things and forgetting the impact of loan waivers on the banks even though he personally knows the role of efficient banking in economic growth and the real reason behind the farmers suicide
I wonder how loan waiver can help the farmers like this. They need institutions and cooperative societies to help them. Loan waiver can help a bit but they will cease to be a farmer in the coming years and we can see them as migrant workers....!

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