Loan Waiver - Some Questions
The Government of India is said to have waived off debts, loans of about Rs.70,000 crores to various farmers in the country.
There are many questions on this populist idea but there is one single question which is very much disturbing. The Finance Minister P. Chidambaram told the Lok Sabha on 21/22 July that about 4 crore farmers have been benefited by this loan waiver.
Does it mean or is it ever possible that on average one single farmer owed Rs.17,500 crore worth loans to the Govt ?
If there was a mistake by Mr Chidambaram then what is the average loan amount per farmer which the Government has waived off ?
Presuming (on a very higher side) each farmer, on average owed Rs.1000 crore, does it mean or is it possible that there are 70 crore farmers in India ?
There seems something very very wrong in the figures circulated or published by the Govt.
Will somebody from Govt of India or any other person tell where this Rs.70,000 crore have been spent, I mean how many farmers were benefitted and what was the average amount per farmer waived off ?
