Rs.60000 Crores farmers loans written off- comments of Mr.Charly.,MD,New Life

Loan Waiver: Bane or Boon?The 1989 has been revisited on 29th feb 2008. by again introducing the loan waiver for farmers. So, are you willing to see this as the help to farmers community, which is in complete distress, by Indian taxpayers OR as an incentive for foul play while loan paying in future?My Take:Definately a farmer who might have sold his property to pay loan has been punished for his honesty, and would have appeared as a fool in society, but keeping in mind the demand of farmers community for long in this regard and their anticipation of possibility of that being happening in the near future would have stopped many farmers from taking such actions of selling their property. So, those "honest farmers" would really have been quite less in numbers. Also, saying that this loan crisis is the result of 1990 loan waiver which encouraged the foul play over loan by farmers doesn't look logical enough since the regions severely affected by this crisis are those that lacks natural resources like water supply and quality of soil. Also, one of the biggest reason for farmer suicide is humilation which they recieve from money lenders on their inability to pay loans. So, saying that farmers don't pay money, despite having it is untenable. May be this could little bit encourage the foul play among farmers, but i have no doubt that the gain is much more than losses. And i also feel this act would help in strengthening the relation between urban and rural society, where taxpayers have collectively helped a section of people in "complete distress".