Budget Bonanza for the Indian Farmer!

The Rs. 60,000 crores loans waiver to the small and marginal farmer is little more than the corporate taxes foregone by the government in a year. Yet, we have IBNLive pose a rhetorical question in a most dramatic manner.

On the day when Finance Minister P Chidambaram unveiled his seventh budget – and his fifth for the UPA government – he left everybody stunned with a Rs 60,000 crores waiver of loans for small and marginal farmers.This has left open two huge questions – where is the money coming from, and if this year’s Budget is an attempt to get re-elected. (source)

No one, however, seems to be “stunned” at the thought of who bears the brunt of the taxes not paid by the corporates.

If you ask me, we should have elections every two years…

Update: See Madhukar’s excellent post on the topic

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3 Replies to “Budget Bonanza for the Indian Farmer!”

  1. There is a lot of confusion in the farmers mind that is the package helpfull for those who are the regular repayer of the loan.

  2. My comment was not meant to be taken literally, it only expressed my exasperation at the inattention to the rural sector. The so called package is certainly only a solution, the key point is why the loan crises has emerged. Utsa Patnaik’s article linked in a subsequent post addresses this point.

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