It would be naive of us to think that the Prime Minister and the Finance Minister would not have done their homework before announcing such a Big Thing involving such a huge amount that at the outset looks to upturn the entire gains they have made out for the Indian Economy in all these years.
In fact, it was a painstaking last 4 years during which they have made the whole arrangements. And the entire Rs. 60,000 Crore has already been provisioned for. Otherwise the FM would sure to have kept some money for it in this Budget. Let us have a look at the previous Budgets, and we will get the answer.
Rs. 60,000 Crore is a big money and unless it is handled properly the entire economy would be doomed. We do not have people running our government, who are dumb enough to do such a blunder. And marking such an huge amount for a unproductive work, does not make any sense.
You can get a glimpse of confidence in his answers to the question of arranging funding for the waiver. His smiles tell tell us the entire story.
I would like my friends over here to keep a track on the things that is going to unveil in coming days. Things are exactly as I am mentioning here in these columns. It surely be naive of me if it comes out to be something completely different.
It is clear that the Government is not paying any substantial portion of this Waiver, anyway. A major portion of the loan were already written off by the Banks due to stricter Bad Debt Reporting Regime of the Reserve Bank in last three years or so. So that much has already been absorbed from the grants from Government and internal policies of individual Banks.
But to the borrowers, the amount overdue was always there. THIS is WAIVED. And not the money that is being regularly paid by able and willing farmers.
Only the Announcement is made by the FM on Budget Day, clubbing the Written Off Cumulative Amount. Because the Election is on the horizon. Do not Blame him.
I am not telling as to what the ethics says and what it does not. For those who pay are not given any freebies and those who paid their instalments honestly, did get nothing extra.
But that Rs. 30,000 CRORE is a big money. And this Contribution to the Coffer will soon be done, in Four Straight Months, by FARMERS !!! Defaulting - Nonetheless.
Clever Move. Is not it?
Telling the whole story would have killed the suspense. Had he told this, the impact of the story would have been much less than what it is now. No magician will reveal all his tricks, for you will lose the Interest in watching his act.
Even Advani would have done so had he been the FM. Fortunately, he is not, for it would have been disastrous.
