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| Rare political consensus |
| In the biggest ever loan waiver, small farmers who have taken bank loans need not repay them. India's farmers are celebrating after the announcement
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| INDIA
, 29-February-2008
10:3:43 AM |
| In the biggest ever loan waiver, small farmers who have taken bank loans need not repay them. India's farmers are celebrating after the announcement of UPA government's fifth Budget.
''We are very happy about today's announcement. But we want details about how to go about this and what we should do,'' said a farmer.
There's been lots of debate on the economic merits of Friday's Budget, but everyone agrees on the political logic behind it.
It's a typical election year Budget that puts money into lots of voters' pockets. Prime Minister Manmohan Singh has expressed his happiness on the Budget.
''It is an aam admi's budget. It is a farmers' Budget, it is a middle class Budget, which ensures that growth rhythm will be sustained and inflation will be kept under control,'' said Manmohan Singh, Prime Minister.
However, Leader of the Opposition, LK Advani has come down heavily on the budget saying that it's hardly an aam admi's Budget.
He said: ''The highlight of the budget, namely, the waiver of farm loans has come too late. It is also insufficient. I am also surprised at the heavy communal overtones of the Budget.''
Union Agriculture Minister Sharad Pawar said: ''I feel that after this massive relief, the farmers will be able to get back into the credit cycle. Now, farmers will be able to acquire money for next year's crop. A big burden has been taken off the farmers. This is a progressive move.''
BJP spokesman Prakash Javadekar asked why the government failed to notice the plight of farmers all these years and was talking of good governance only in an election year.
CPI's Gurudas Dasgupta described the Budget as an ''election stunt''. ''The finance minister has announced everything except the date of elections,'' he said.
On the other hand, Samajwadi Party's Mohan Singh hailed the exercise saying the loan waiver of farmers was a welcome step, but wanted enlargement of the relief,
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