Why is the government not waiving farmers' loans in India? In the past three years, they waived off 1.14 lakh crore in corporate loans. Why are farmers not on the priority list?
Any loan waiver is a horrible idea.It brings “moral hazard”. Think about the poor farmers who have already paid their loans or interest. They will look stupid after working hard to repay. Will those guys be repaying next year? No. Punishing the good people will only create more immorality.The governments will be saddled with a lot of debt. Money is not free. If a few lakh crore rupee worth of loans are waivered, that means a few lakh crore rupee worth of money is taken away from development - from your hospitals, schools, road and irrigation development.Loan waivers don’t fix the fundamental problems - lack of good logistics, storage facilities and transparent markets - that affect the farmers.The banks that get burnt by loan waiver will be loathe to provide loans in the future to farmers. If those guys won’t repay the loans, why would you have loans for them? Most private banks already stay off agriculture and if you do stupid acts like these farming will be deprived of more capital.Current government is looking to do the same stupidity as previous governments when it comes to loan waivers.Insanity: doing the same thing over and over again and expecting different results.
Is the state of Bihar a burden on India? Why or why not, and will it ever change?
The state had a rich history.1. First republic in the world was in Bihar "Vaishali"2. It has given some of the greatest emperors of India like Samudragupta, Ashoka, Vikramaditya and Chandragupta Maurya.3. Three major religions of the world namely Buddhism, Jainism and Sikhism has its root in Bihar.4. One of the world's greatest religion, Buddhism arose from the region that now makes modern Bihar.5. Nalanda University is considered one of the first great university in human history. It was also the first residential International University.6. Bihar gave India its first president i.e. Rajendra Prasad7. Bihar gave world Aryabhatt, the great ancient mathematician.8. Bihar gave Chanakya who was the father of Economics and Political science.9. Ashoka, the greatest King India has ever had, had Patliputra (now Patna) as his capital.11. Ashoka Chakra comes from Bihar which adorns India’s national flag.12. It is one of the fastest growing Indian states (in terms of GDP) in recent times.13. Bihar accounts for 71 percent of India's annual litchi production14. Bihar contributes for 85 percent of national production in Makhana (Foxnut).15. ‘Non-Violence’, the most enchanting thought in the history of mankind first emanated from this land of Bihar. The Buddha and Mahavira pronounced this solemn solution of human suffering about 2600 years ago and resonate even today to brace humanity. Bodh Gaya and Pawapuri have become symbolic places to engage to this uplifting mood.16. Magadha, Vaishali, Mithila, Anga, Janaka were the major kingdoms during Vedic period symbolizing Bihar being the centre of trade and culture in India.17. Bihar in the ancient period was the epicentre of learning, culture and power. The city Pataliputra from this state was an integral part of Indian civilization.With such a glorioushistory, the present state of Bihar and future course needs a lot of introspection to regain its lost glory