Rs 60,000 crore loan waiver package for farmers

I am Very Poor Agri family, I get sheep loan Rs.70,000/- from IOB bank at Vembakkottai branch now outstandig is 63,319/- am i eligible for waiver

I HAD TAKEN RS.2,00,000.00 ON OCTOBER,2007, OUT OF WHICH RS.1.80 LACS WAS DUE ON 29.02.2008.HOW MUCH AMOUNT WILL BE WAIVED. PLEASE TELL METHANKSJITENDER

I got sugarcane crop loan on Feb 2007 from union bank but up to Mar 2008 I not paid the loan amount shall I come under Loan Waiver or not I am asmall farmer less than 2 hectare please reply

before making an announcement for Rs.60000 loan waiver, has the govt. told about from where these finance will be brought up- sources for loan waiver amount. also, by what time will this loan waiver be given to the farmers

yes it definately helpful to farmers but also govt as to concentrate on farmers who lend money from private moneylenders and also concentrate on improving agricultural infrastrcture

no doubt that it is going to increase the morale of Indian farmers

is it also a loan waiver for those farmers who has take loan through isan creditcard and if it is then what is the criteria

As i am very weak in mathematics I want to know from some experts that if Rs 60000 crore is allocated for 4 crore farmers what will be the amount allocated to each farmers.

My question to you is whether the govt has planned to waive off entire outstandings/overdues on tractor loans taken by farmers also under the loan waiver offered to farmers in this budget?

These sops to Farmers is an eye wash. What about farmers who have taken loans from private institutions ? Why did PC wait for 4 years to deliver these SOPs ? was the time not ripe last year or have things changed so dramaticcally in 1 year that he gives these SOPs NOW? All an election ploy ! Next Government is going to have it tough !

Why is everyone chasing Sanjay and Manyata? Leave them to themselves. How does it affect any of us whether they are married or whether she converted or she is a Goan or whether they live in ? Leave them alone

Farmers of Vidharba has not benefited by this loan waiver, they should be helped to form a cooperative to support themselves, so also those who are not benefited. Just like media highlighted them, hope they will help them too. There are many who wants to help them, but does not know how to go about.

Sell India to the Globalist International bankers in the first FOUR years and,offer a sop in the FIFTH year to the farmers. Congress meeting its Waterloo in the coming elections,to be routed soundly is certain.

This is a clear aim of globalization.The target of IMF and IDB to be fulfilled and ultimately benefit to US.This is what our central government aimed and our finance minister excecuted.It seems like a part of conspiracy.

Loan waiver pakage is a populist policy. Instead the tax payers' money would have been utilised to improve infrastructure such as irrigation, uninterrupted power supply and fertiliser at reasonable cost. This would have been a permanent solution. The present pakage is an incentive for the farmers to take loan again and wait for another waiver.

Exalent web to all pepole

The question about loan waiver is how the farmers are benifitted from this. What the farmers will get from this loan waiver? Not a single Rupee. This move by the finance minister is very smart move. The govt is losing nothing. In other words finance minister has issued bonds to banks for writing off the NPA of banks. Due to certain laws in our country the banks cannot auction the agricultural land. so farmers are in the habit of not paying back the loans and it becomes NPA waiting for the govt. to writeoff. Moreover the loans taken by farmers from commission agents are much larger than by banks. that money is too much. so the farmer is not releived in any way. The farmer goes to commission agent because the banks do not provide adequate loans and the commission agents charge much higher rate of interest and the farmer is always in debt as he is now. The amount of used for waiving loans should have been used for microfinance and the racovery be made efficient. this amount should also have been used for promoting agriculture, for its diversification and for agro based industries. that should have provided employment and reduced poverty of farming labourers. i request the finance ministry to take long term measures for tackling the problem of agriculture. these kind of measures are merely an eye wash. Thanks

I have read the comments from learned people in this forum. I fully agree that waivers to farmers is totally wrong. Actually farming in Inida is so BAD our Govt should take effots to STOP farming totally. I buy wheat (imported ) at the same cost as Indian farmers sell. By stopping the farmin we should IMPORT all food items. then we should give the farm lands to big multinational companies for starting buisness. We can give BILLIONS is subsidy and TAX CUTS. But it is good for us. the water used for farming should be diverted to these multinational companies, their staff quarters and people living in cities. As an Inidan it is ethically wrong to give waivers ot farmers BUT it is fine to give subsidies and tax cuts (land at cheap rate; one rupee/acre like that). Look I am earning 60, 000 rupees/month. if big comapnies come I can make more money and I CAN IMPORT ALL FOODS. And there will not any suicides by farmers (since they stop farming), instead there will poverty deaths. It is also another way of reducing our huge population. So stop all subsidies and waivres to farmers. another mistake the govt does is income tax on people like us. they should stop collecting taxes from us at least for 10 years (like big companies), provide cheap electricity to our homes (like they give to big companies) from the MONEY SAVED FROM FARMERS AND FARMING..

Loan waiver of farmers seems to be leaked much earlier than it was presented in the parliamnet. How the thousands farmers and people in dance attire gathered at Sonia's house in minutes of the budget presentation if they have not prior information. Besides, what will happen after the loan waiver? Will the crop grow after loan waiver automatically? Why government waited 4 years for this revolutionary step and what help has been extended to those who had committed suicides and to those who had already paid their loans a day earlier of the budget presentation.It is clearly an election budget and nothing will change. Neither prices will fall nor the suicides will stop.

This does not address or excuse the debts of farmers on account of private money lenders. Most private money lenders are local politicians and their relatives. The reason farmers were caught in a debt trap was because these pvt money lenders were charging them more than 100% interest rate.That is the case with most farmers in Vidharbha.So this is an eye wash - because it will only help those who held bank loans as opposed to pvt loans. This does not provide any relief to the farmers who owe money to pvt money lenders - who are the major chunk of farmers who committed suicide.Before handing out this relief, does the Govt even have the data of how many marginal farmer are holding bank loans. The reason farmers in remote areas like Vidharbha did not go for bank loans was because the banks never wanted to give them loans. So how will this prevent farmers from getting into and remaining debt ridden to the pvt money lenders.Also, what data does the Govt have to prove that farmers are depressed because of conditions beyond their control?Shouldn't we know whether firstly there is a need for subsidy and secondly whether the deserving people will be the recipients?

1. India got independence from UK and got occupied by Congress. 2. Indian subsidies on Haj, Mosques, Madrashas and 15% communal budgeting is nothing but a plunder of India of the same type as of the same done by Mumammad Gauri, Gajni, Bin Kasim, Babur, Akbar and Aurangjeb. Any Indian when pays taxes, he/she pay it for the funds of public nature, for schools, colleges, hospitals, roads, etc. If government diverts that money for subsidizing Haj, it is nothing but plunder of the public money. How it is then different from what muslim invaders had done in the past? Today, congress is plundering India on behalf of islamic barbarian invaders. Today, India is at the same position as it was 500 years ago. 3. Gandhi led freedom struggle with Gita in one hand. Now present congress is dragging India with Kooran in one hand. Islam came and spread in India with Islamic invaders. Muslim rule was a foreign rule. India still needs to be liberated from second-tier invaders after British rule and from their (mis)cultural invasion. As long as Congress is in power, India cannot be liberated. 4. Having Congress in power is just like eating at "lunger". Even the quality of food is better at "lunger", it cannot replace the food at home. Congress headed by foreign born Sonia cannot give us the pride which India deserves. The enjoyment of cracking a single firework is much more than watching a neighbor cracking his whole basket of fireworks. 5.What congress has done for India? Nothing but the exploitation of India. A conspiracy against India to keep it poor and underdeveloped so that they can establish a dynasty. Congress is a grave threat to the very existence of a real democracy in India. 6. Sonia is the head of Congress and being a foreigner, she cannot be assertive. This weakness is bargained and exchanged by its office bearers into freedom from accountability. Partymen do not question Sonia's foreign identity and in turn they get freedom from accountability and the final result is prevailing anarchy in the country. Every office bearer is just looting everybody and masses are crying. 7. Congress is elected by the muslim votes. All muslims are not active terrorists but if we include passive terrorists too, it will be hard to decide which muslim is not a terrorist. So, how a government elected by the terrorists, can act against the terrorists? 8. Are we proud of our leaders, Sonia Gandhy, Pratibha Patil, Hamid Ansari, Laloo Yadav, Manmohan Singh, P. Chidambaram, Pranav Mukharjee, Karunanidhi, Prakash Karat, Jyoti Basu etc.? What merits they have got? By having Congress, we humiliate the merit itself. 9. Every time election comes, Congress flows money to fool masses and buys the votes spending public money. We loose our national capital and India remains poor. Congress is the reason of poverty of India. 10. Can we solve our political problems of Kasmir, North-East, illegal Bangaladesis? How can we solve it when Congress itself is responsible for all these problems? Do we expect that Congress will dig its grave by its own hands? No, of course not, we have to dig Congress' grave and bury it forever.

Whatever is the budget, loan waivers or election budget, it has definitely slapped CPM and other Leftists.

Three questions stare us in the face. First, who is responsible for bad debts ? Unless the responsibily is fixed and lenders punished such reckless lending under political pressure or otherwise without adequate calateral would recur. Second, what about the loans received by the the farmers from private money lenders ? We must have some estimate of the amount and how this indebtedness would be liquidated. Third, rich farmers holding more tham 2 hectares of land would unjustifiably get the benefit of OTS (One Time Settlement) in that their debt liabiity would be reduced by granting them a rebate of 25 per cent which totals to Rs. 10,000 at tax-payers's cost. In brief the whole plan is ill conceiived and needs to reconsidered .

Waiving Loan is a bad practice many state government done this in past and they never achieved any thing good, it stop the overall growth of the country, there could be many other way to provide relief to farmers like lowering interest rate exceeding the payment time period or making some bonus time period on which interest would not accrue, this is one kind of dictatorship for Taxpayers, done nothing or implemented bad policies for 4 years for agriculture and waive loan on last years this is a clear cut cheap populist, vote bank politics, this is not a long term solution, there are many flaws in this announcement I was not expecting this kind of stupidity by Chidambaram my expectation was he could provide a good and intelligent relief package, Farmers always expect better value for their crops being paid on time, reasonable rate of electricity and extended hours of electricity, subsidy on fertilizers and better transportation for their product, easy agriculture loan on much lower interest rate, much easy payment terms, did Chidambaram or UPA Government provided to them in 4 years, answer is noCongress always play this kind of politics do nothing good in 4 years and announce a budget show everything green and green in final year, despite all this thy will loose election in years 2009 that’s sure about it.

It is really praise worthy that the finance minister has given a loan waiver to farmer's debts, this shall certainly bring some solace to debt ridden farming community and revive their hopes towards revatilisation of agriculture and farming with renewed vigour. The govt also got to ensure reasonable procurement prices and transportation systems. Letus also avoid instances of importing inferior quality wheat at higher rates then what we pay to our farmers as procurement price. The debt exemption is a novel step which shall build confidence of farmers in this sector.Similar concessions are required in power sector as well to small scale farmers to enable them to make reasonable profits so as to have a affordable decent living.