Is not it a surprise for all of us that so much farm loan had been distributed in all these years? We had an idea that successive governments cared a hoot for these poor people who happened to be the backbone of our country.
The Banks need not have to keep those unproductive loan papers in their strong rooms, any longer.
The biggest beneficiaries are the Banks. This Rs 30,000 Crore (the remains of the 25% waiver for other farmers) will directly go to their books in hard cash.
And while doing this exercise, the government is loosing practically nothing at all. The entire Rs. 60,000 Crore has already been provided for against Bad Debts by the Banks in all these years. Well distributed in these Four Years.
The Cleaver Move is the Brain-work of our PM, FM and some good economists who could think of such a good idea. By practically spending nothing, Votes of so many people are ensured.
It was a painstaking excersise since last 4 years, and the timing was perfect.
