Farmers loan waiver – Farmer’s Pain = Political Gain

Farmers loan waiver – Ingrained with ages old belief in earning good karma and powered by our recent socialist background, comes a sense of guilt whenever we see any person with a rustic look. The sense of guilt becomes unbearable if we are told that a series of misfortunes had befallen that poor soul and his brethren. Any Indian would then, without thinking, spare some contribution to make things better for such people. So far so good as the common man has no return expectations from the person/s helped.

Farmers loan waiver

Now, look at the race to Farmers loan waiver by various political parties in various states. This is different from a common man ‘helping’ because-

  1. The political parties are giving away money collected by the government by taxing honest and hard working common people
  2. The political parties promise to pay our money to Farmers or to anybody they want to help with writing-off liabilities expecting to gain at the hustings
  3. The promised amounts are so big that some ‘development programs’ may be slowed down which would otherwise have been implemented faster and helped the Nation’s GDP to grow  
  4. The common man will be further taxed to recoup the shortfalls/deficits in future budgets

Add to this the ‘Nil Effect’ of earlier such Loan waivers amounting close to a 100,000 crores (One Lakh Crore Rupees) as on date, where some leading publications suspect those not requiring waivers also benefited. Vehicle loans and such bad debts were paid off by some from the help rightfully meant for the marginalized farmers and those struck by misfortune.

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Team Tentaran feels that a better formula would be to involve local (block level) bodies and financial institutions to –

  • Extend a moratorium on repayment for those truly incapable of paying back, and
  • Immediately extend further financial help to those who are ‘systematically’ identified and verified as genuinely needy of help for survival & sowing the next crop
  • Enforce recovery from others who are once again simply waiting for a write-off to further spend on their material comforts

Farmers loan waiver

It goes without saying that a gentle helping hand further powered by Infrastructure development by way of Irrigation facilities, Roads, Warehousing, Cold-storage, training programs etc. shall steadily help in making the farmers financially stronger and not requiring doles from anyone.  A well-thought program for deciding a viable MSP for crops and more budgets with the State to buy farm produce at MSP shall be a further boost to the well-being of farmers.

Genuine Farmers have historically been honest, hardworking and upright, who would go to any extent to protect their dignity and self-respect. Let’s not make them give all that up by teaching them to expect waivers where they should be responsibly working to pay off debts.

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