BJP to farmers: Elect us, get interest-free loans

Discussion in 'Politics & Society' started by Yusuf, Jul 16, 2012.

  1. Yusuf

    Yusuf GUARDIAN Administrator

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    BHOPAL: Farmers across the country will be provided agricultural loans at zero per cent interest rate if the BJP is voted to power at the Centre after the 2014 general elections. It's a promise,'' party national president Nitin Gadkari said addressing a massive farmers' rally here on Sunday afternoon.

    This announcement came minutes after Gadkari and senior BJP leaders Rajnath Singh, Sushma Swaraj and Anant Kumar felicitated Madhya Pradesh chief minister Shivraj Singh Chouhan with a plough at the Atal Kisan Mahapanchayat organised by the state unit of the party.

    Exactly a month ago, chief minister Chouhan was the first to proclaim that his government would provide agricultural loans to farmers at zero per cent interest rate. The scheme was passed in the state and implemented with retrospect from April 1, 2012.

    Addressing the large gathering of farmers from across the state, Gadkari declared that Chouhan's policy to relieve farmers from the burden of paying interest on loans will be adopted by the party nationwide if the BJP came to power at the Centre.

    The financial condition of our farmers is far from satisfactory. Farmers are committing suicide under the burden of loans. In Maharashtra, farmers pay a whopping 14% interest on the loans they take to grow crops to feed the nation,'' Gadkari said. In Uttar Pradesh, farmers pay the same 13 to 14% interest rate. At present, soil and mud for gardens sell at a higher price than grains. I know of places where 'mitti (soil)' sells at Rs 20 a kg. Tomatoes are cheap but sauce is expensive, oranges sell cheap but juice in tetra packs are highly priced, wheat sells cheap but sliced bread is exorbitant. This only shows the exploitation and injustice to farmers,'' the BJP national president said.

    If Shivraj Singh Chouhan can give farming loans at zero per cent interest, then why not the Congress government in Maharashtra?'' Gadkari asked.

    Over the past three months, the ruling BJP in the state has been counting its series of success stories in the agricultural sector. First, Madhya Pradesh became the third largest wheat producing state with the government procurement more than 85 lakh tonne at the minimum support price. Next, chief minister Chouhan sat on a 24-hour fast on June 15-16 to protest against the unprecedented price hike of fertilisers. Before ending the fast, he announced to provide farming loans at zero interest rate. Then came the statistics that Madhya Pradesh agrarian economy defeated slowdown in the economy and achieved an impressive 18% growth while the state GDP grew at 12% in 2011-12.

    Felicitation with the farmers' plough on Sunday afternoon, made two political clarifications. One, that Shivraj Singh Chouhan has been officially accepted by the party national leadership as a farmer leader. And two, that the assembly elections 2013 will be contested on the plank of Chouhan's agricultural achievements. The chief minister had always prided himself as the son of a farmer''. And now the BJP's slogans said: Kisano ki shaan hai, Shivraj Singh Chouhan hai (Shivraj Singh Chouhan is the pride of farmers).

    http://m.timesofindia.com/PDATOI/articleshow/14967059.cms
     
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  3. parijataka

    parijataka Senior Member Senior Member

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    Nitin Gadkari says that if Madhya Pradesh under Shivraj Chouhan can give interest free loans in MP then this should be possible in all states. Madhya Pradesh BTW clocked 9% agri growth in 2011 despite 35% deficient rainfall, this year 2012 expecting 10% agri growth due to many sensible measures introduced by state govt. I hope BJP gets elected in 2014 at national level so that India as a whole can do better. Congress ministers at centre have been spending their elected time in looting and destroying national institutions and yet our foolish and/or paid media propagates Congress party/Sonia/Rahul praise despite humongous corruption as in 2G, CWG, etc.

    Madhya Pradesh likely to clock 10% farm growth
     
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  4. Daredevil

    Daredevil On Vacation! Administrator

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    I'm not a big fan of interest free loans. It makes the person who takes loans lazy and free of responsibility. If not for free at least give it at 4% interest rate.
     
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  5. Ray

    Ray The Chairman Defence Professionals Moderator

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    Nothing free gives result and production!
     
  6. sob

    sob Moderator Moderator

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    At least the principal amount will come back. The disaster of this govt. in waiving of all farm loans ( principal + interest), the Nationalised banks are still dealing with the aftermath 4 years down the line.
     
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  7. arya

    arya Senior Member Senior Member

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    not a bad idea

    benefit for both
     
  8. parijataka

    parijataka Senior Member Senior Member

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    Well in 2009 UPA-II was voted back on the farm loan waiver among other reasons. As sob remarked above, at least the principal is expected to come back!
     
  9. panduranghari

    panduranghari Senior Member Senior Member

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    No shit sherlock. How can it be of benefit for both? Who pays? The taxpayer. Who gains? Politicians. WHO LOOSES? Us. How can it be affordable?
     
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  10. ani82v

    ani82v Senior Member Senior Member

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    Interest free loan is good idea only for the farmers and distressed craftsmen.
     
  11. pmaitra

    pmaitra Moderator Moderator

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    Interest free loan is the same as giving away money. This is because, there will always be inflation, and the value of each currency unit will fall over time. So, if a farmer receives Rs.1 today, and return Rs.1 a year later, he is actually returning less than what he borrowed. This will come as a burden on the taxpayers.

    Personally, I favour this policy, within reasonable limits of course; however, if taxpayers have to bear the burden of this policy, this should be implemented all across the country cutting across party and state lines. BJP is known to be very biased when it comes to performing its duties to states that are BJP ruled vis-à-vis those that are not.
     
  12. sayareakd

    sayareakd Moderator Moderator

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    Elect me and make me PM and govt will take loan from you............:rofl: what can be better offer then this. :rofl:
     
  13. A chauhan

    A chauhan "अहिंसा परमो धर्मः धर्म हिंसा तथैव च: l" Senior Member

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    Yeah, in addition to that, how many farmers are there who repay their loan regularly ? many loan cases end with exemptions or compromises, banks pay it with their own money, debt recovery is already a headache, banks are already suffering loss of lots of money in such cases. At least the rate of inflation should be considered in such loans.
     

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