Farm loan waiver

Congress President Rahul Gandhi must be commended for saying that the Opposition will not let Prime Minister Narendra Modi sleep till he waives farm loans. Modi is in a spot as his party considers it as ‘bad economics’. He has to consider the waiver lest he is regarded as ‘anti-farmer’. He should treat the debt-ridden farmers at least on the same footing as the debt-ridden Anil Ambani. The ruling elites want us to believe that waiver of loans to the corporate giants to the tune of lakhs of crores of rupees is impetus to growth and a ‘race to the top’ whereas waiver of loans to farmers to the tune of thousands of crores of rupees is ‘bad economics’ and a ‘race to the bottom’ . It is warped logic to hold that what is good for industrialists is not good for farmers. Opponents of farm loan waiver for once should imagine themselves in the place of distressed farmers to understand how it provides a huge relief to them. Paying lip service to the farmers does not alleviate their plight. It is nobody’s case that loan waiver will entirely address or tackle the agrarian crisis. But it must be conceded that it will serve as palliative and a balm and provide some relief from crushing debts. The waiver of farm loans can be done with eyes shut in that it will make the farmers who feed the nation by the sweat of their brow smile with some relief.

Maruthancode, TN

This refers to ‘To prevent bad loans, banks to cross check info on borrowers’ (December 19). It is indeed great news that banks will take the undertaking from borrowers to check their information with the income-tax and GST departments. One of the main reasons for introducing GST was formalisation of the economy besides widening the tax net. With the kind of massive bad loans our banking industry is grappling with at the moment, it is imperative that borrowers’ details are thoroughly checked with the GST and IT departments, besides regular credit bureau checks, as ultimately it is depositors’ hard-earned money which is used for the lending. And it is also a welcome move that all banks are trying to have a standard format for seeking authorisation. This practice should be mandatory for all exposure irrespective of the loan size.

Noida

The Delhi High Court has done the right thing by quashing the Centre’s ban on retail sale and private manufacture of oxytocin. When the Ministry of Health and Family Welfare had notified the ban on sale and private manufacture of oxytocin in April this year on the ground of its alleged misuse in dairy cattle, fruits and vegetables, health experts and statutory bodies, including the Drugs Technical Advisory Board, expressed strong disapproval by citing its palpable negative impact on the health of pregnant women. But it didn’t convince the government to roll back its imprudent decision. With this verdict, the ill-conceived decision of Health Ministry stood exposed. Oxytocin is listed as a essential medicine by the WHO for it plays a pivotal role in stemming the postpartum bleeding among new mothers.

Sholavandan, TN

It is important to curb differential/predatory pricing strategies such as deep discounts used by e-commerce firms to boost sales, in order to protect interests of offline retailers.

New domestic e-tailers attempt to bolster their presence and enjoy a decent market share, as the consumption-space story is being re-written. However, it is important to micro-regulate the retail e-commerce segment in order to prevent oligopoly/monopoly and preserve competitiveness at a time when M&As are seemingly driving the fast-growing e-commerce markets.

Investors in the short-term, are wary of potential jitters as huge capital investments by enterprises usually weigh on revenues/profits. Strategic segregation or predatory pricing to market products can affect the quality of goods/commodities or generate inflationary pressures in the economy.

New Delhi

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