Budgets have almost always left at least a section of the population unsatisfied or mildly satisfied, buts thats past. Coming to the 2008-09 Union Budget presented yesterday leaves almost every section of the society pleased with the efforts made by our Finance Minister (FM).
Before I proceed anywhere from here let me quote a statement which was told to me when I was a kid........No one can satisfy the needs of everyone, but if you are trying to do so, then its probably election time.......so true, when I see this in the light of the recent budget.
I am aware of the fact that our FM has got appreciative remarks from all-over the world for having done a great job in the past, and no one can deny the fact that he is capable enough to guide the finance dynamics of such a huge nation. But at the same time I am also aware of the fact that he belongs to UPA, the ruling side, and the Congress(which is the major chunk in UPA) is under a lot of stress to win future elections after several defeats in the recent regional polls. And hence the role of our FM changes from managing the 'Finance Dynamics' to the 'Vote Dynamics'. All the effort goes in collecting the votes rather than giving a long-run financial strength to the nation.
As a person everyone would be happy to get more money in his account, and no one can deny the fact that given an opportunity no one wants to pay-back their loans. And finance minister having done that (for farmer) has set a wrong example for the generations to come. With this decision they are passing these two messages - 1. We can't actually do anything to improve the status of Agriculture in India, and hence this bribe for the time-being, later if required we will pay more, probably during the next elections. 2. We just want that you be at the same level, from where you started, probably few decades back. We don't want you to be hard-working, because we are always there whenever we need votes from you.
Look into the human psychology, what would run in the minds of several hundred thousands of farmers whose loans have been waived-off...'Thank God! Its over, my responsibility is gone'....and once the responsibility goes off the human mind tends to be more and more satisfied with his current state. I have no doubt when I say that there wont be any effect in the productivity of Agriculture in the coming year and there wont be any decrease in the number of farmer's committing suicide. This step also sends a wrong messages to the Banking sectors. Do they provide loans to someone just because someday govt will pay back for them?
Before I finish writing this I have only this much to say - If I were FM, and if I were to take this step of waiving-off the loan amount then I would have it in steps, waive-off only a part of the amount, and not the whole amount. Responsibility should be shared, and not taken-away.
Just think of our cricket team where 10 guys are performing well, and the 11th guy who has the potential to contribute, but is unable to. But when the match is over the 11th Guy gets the Man of the Match! It can happen only in India.
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