Waving waiver or Political bribe

Finance minister P Chidambaram declared Rs over $13 billion farm loan waiver in the budget which writes off 100% of overdues of small and marginal farmers holding up to two hectares, and 25% of overdues of larger farmers. I think it’s like excusing the corrupt businessman who bounces his cheque. What message does government send to the honest villagers who struggles every week to repay his/her loan? They will be angry at being penalized for honesty. No doubt, the aim is praise-worthy, but not the process. Rural India is full of family holdings and family holdings will naturally be much larger than two hectares even for destitute farmers who will, therefore, be left without the 100% waiver. So members of joint families will be wounded that, despite having less than one hectare per head, their family holding is too large to qualify for the 100% waiver. Undisputedly, the beneficiaries will include some of the truly troubled who worth relief, but will also include mostly cynics who can afford to repay but have not done so, anticipating a waiver. Atleast in my village the number of such cunnings are very high who love to enjoy every facilty of government without paying a single penny. There will be grief again; farmers will borrow again; and get into mess again. It is nothing more than one-time political bribe. It tells the farmer not to worry to repay his next loan. For the sake of the national economy and of our society as a whole such step should be condemned widely and bitterly because it’s a short-term measure and solution of a great problem.