BJP says the loan waiver is a disaster
Stepping its attacke on the Finance Minister for populist policy when nearing the polls, BJP president Rajnath said The loan waiver is a disaster. Still the FM has to tell the nation where from he got the figure of Rs 60000 crores: he is still to tell the country where from he will get the money to accomplish the waiver. Most media has exposed the waiver as a deception. The amount of waiver involved is, according to un-denied reports only Rs 23000 crores. The reports also cite the RBI data to show that only less than half of the farmers took loans, and in that most of them borrowed from private lenders and of the bank borrowers 70% of them paid back their loans and only a small minority delayed the payment. So the so called benefit to the farmers is very minimal.
Compare the loan waiver, which is a one in a life time benefit to the poor farmers, and Income tax waiver for rich people. The loan waiver per head is Rs 4500 and the tax waiver for those who have Rs 2 lac income is over Rs 6000 at the minimum and the waiver for those whose income is Rs 20 lacs is – believe it – Rs 49500! It makes mockery of the claim that it is a farmers’ budget.”
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