WHO IS GOING TO PAY THE 60000 CR????

The most awaited budget for this year was presented on Feb 29th with the general election for the country around the corner.FM had the responsibility for balancing every quarter of the society and which he actually did satisfy.Most of them would feel that this budget was made with the election in mind,but the FM has done a pretty good job.Though he has not made any revolution with his policies,he has done a good job as an economist and as well as a politician.The slab for the tax exemption was raised from 1 lack rupees to 1 lack 50 thousand.Thus ensuring 4000 rupees in every tax payer's pocket.By doing this he has actually increased the consuming capacity of the population.And he has also cut down the subside duty on the equipments required for the making of a car,bike etc.And as a result of which the price of the car's have come down considerably .

The major but the most important step was that of the complete waiver of the farmer loans.This is the first time in the Indian history that a central govt has introduced such a scheme for the farmers.But the FM in his speech quoted that this scheme was only for one time and such a waiver would not be given in the future.Though this scheme has brought smiles in the faces of most of the farmers,this scheme forms a dangerous precedent for the future.There are various issues resulting from this complete waiver,first is that the 60000 Cr which has been completely waived off has hit the banking sector hard.Secondly,the banks would not be willing to give loans to the farmer who has not payed his loan and has been let free by the govt by this scheme.Third,most of the farmers would have got money from the local money lenders,and the govt has not announced anything for such farmers.Finally this gives the farmer the confidence for not paying his loan in the future.


Though this move is considered to be a move with the elections in the mind,it has brought about smiles in the face of the farmers.So the govt needs to sort out some solution for this never ending problem for the farmers and thus prevent such a scheme in the future.