State will pay for giving in to populism: Experts
State will pay for giving in to populism: Experts
Bhubaneswar 21/9 : If politicians and Governments actually want to help farmers, they
need to create a vibrant agricultural financial system and bring attitudinal change to use
loan amount in productive manner. So that it will allow farmers to tide over the bad
times. A nationwide farm loan waiver will be economically disastrous, said former
chairman of Odisha Gramya bank Saroj Kumar Dash here on Thursday.
Speaking at a seminar on ‘Role of Finance in Rural Sector’ organised by Institute of
Media Studies (IMS) here, he said farmers, even big ones, are also not coming forward
to repay their dues. This situation is prevailing in the whole state. In most of the cases,
farmers are utilizing the loan amount to marry off their daughters and to consume
alcohol. Farmers of small scale businessmen are taking loans but not utilizing it for the
right purpose. Instead, they are utilizing the money for their daughters' marriage, he
added.
Attending the seminar, Chartered Accountant Er Ramesh Chandra Giri stressed on
promoting rural financial services to check monopoly of local money-lenders who often
abuse farmers and others. Maximum slippage as far as loan recovery is concerned has
been witnessed in the accounts of small and marginal farmers. The new paradigm
advocates that the development of rural financial system and the decentralization of
rural credit provision through a variety of institutional and organizational devices, he
added.
Among others, manager of SBI training branch Barendra Rana and Director of IMS Prof
Upendra Padhi also spoke.
Bhubaneswar 21/9 : If politicians and Governments actually want to help farmers, they
need to create a vibrant agricultural financial system and bring attitudinal change to use
loan amount in productive manner. So that it will allow farmers to tide over the bad
times. A nationwide farm loan waiver will be economically disastrous, said former
chairman of Odisha Gramya bank Saroj Kumar Dash here on Thursday.
Speaking at a seminar on ‘Role of Finance in Rural Sector’ organised by Institute ofMedia Studies (IMS) here, he said farmers, even big ones, are also not coming forward
to repay their dues. This situation is prevailing in the whole state. In most of the cases,
farmers are utilizing the loan amount to marry off their daughters and to consume
alcohol. Farmers of small scale businessmen are taking loans but not utilizing it for the
right purpose. Instead, they are utilizing the money for their daughters' marriage, he
added.Attending the seminar, Chartered Accountant Er Ramesh Chandra Giri stressed on
promoting rural financial services to check monopoly of local money-lenders who often
abuse farmers and others. Maximum slippage as far as loan recovery is concerned has
been witnessed in the accounts of small and marginal farmers. The new paradigm
advocates that the development of rural financial system and the decentralization of
rural credit provision through a variety of institutional and organizational devices, he
added.
Among others, manager of SBI training branch Barendra Rana and Director of IMS Prof
Upendra Padhi also spoke.
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