The Hindu : Opinion / Letters to the Editor : Budget 2008-09

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Wednesday, Mar 05, 2008
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Opinion - Letters to the Editor

Budget 2008-09

Budget 2008-09 is a piece of political drafting. It showers so many sops one wonders whether it is the UPA’s manifesto for the next general election. Although the farm loan waiver worth Rs.60,000 crore is laudable, its actual implementation is anybody’s guess. The budget does not mention any rehabilitation package for widows of farmers who have committed suicide, which is a glaring omission.

Viraj Deshpande,

New Delhi

* * *

The budget is truly inclusive, given the increased outlays for hitherto neglected sectors. There is increasing pressure on the existing infrastructure and the increased allocation for the power and transport sectors is justified. The loan waiver scheme for farmers is a good beginning towards containing the agrarian crisis. Officials at the grassroots level should educate the farmers on the waiver.

Naveen Marrapu,

Hyderabad

* * *

In the coming years, bankers and farmers will have to face the consequences of the loan waiver. No doubt, the farmers in distress have to be bailed out. But why make banks bear the brunt? Already the public sector banks are finding it difficult to compete with modern banks. Ironically, those who call themselves reformers have resorted to anti-reform methods for getting votes. From now on, the fifth-year budget of every government will be a ballot box budget.

K.V. Murali,

Chennai

* * *

The loan waiver to small and marginal farmers is a good beginning towards addressing rural distress, though a major portion of rural indebtedness is due to the grip local moneylenders have on farmers. Besides, unless the pricing of the farm produce is updated to yield an assured surplus against market fluctuations in input prices, rural misery will not decline.

Kasim Sait,

Chennai

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