The Rs. 60,000 crores loans waiver to the small and marginal farmer is little more than the corporate taxes foregone by the government in a year. Yet, we have IBNLive pose a rhetorical question in a most dramatic manner.
On the day when Finance Minister P Chidambaram unveiled his seventh budget – and his fifth for the UPA government – he left everybody stunned with a Rs 60,000 crores waiver of loans for small and marginal farmers.This has left open two huge questions – where is the money coming from, and if this year’s Budget is an attempt to get re-elected. (source)
No one, however, seems to be “stunned” at the thought of who bears the brunt of the taxes not paid by the corporates.
If you ask me, we should have elections every two years…
Update: See Madhukar’s excellent post on the topic