Few of the questions that came up to my mind when I read about this relief package announced by "P.C., the populist"...
- What is the fundamental cause for the farmer's indebtedness? Did they grow the wrong crops at the wrong time or is it because of the too low/too high rainfall?
- Should the farmers continue to bet on such rainfall sensitive crops?
- The Finance Minister indicated that more credit should be available to the farmers. And that once their old loans are waived they should be eligible for fresh loans. What if the farmers bet on the same crops and fail again? Will the Government pay off their loans again?
- Isn't the Government covering up the consequences of their bad decisions? So, where's the motivation for the farmers to act right?
- What about the farmers who acted harder and wiser and repaid their loans? Doesn't this demotivate them?
- I learnt that the money would be paid to banks in cash over next 3 years from the budget provisions (which means that includes my money too). So whats the opportunity cost of the Rs.60,000 crores spent on this ?
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