Why Taxpayers Should Fund Loan Waivers and Rythu Bandhus?

Elections are around the corner and there are several announcements coming up which are farmer-centric. Some Political Parties are coming up with Loan Waivers and some with schemes like Rythu Bandhu. The Plan is to win the hearts of the farmers who form the major chunk of the population in the country.

Obviously, their support can easily change the electoral fate. There is a humane angle as well in this since farming is the least profitable business and with unpredictable nature also playing a part. But then, Tax Payers often having complaints about the benefits extended to the farmers.

They say despite the extent of the land parcels, farmers are not liable for Income Tax and topping to that, schemes like these being paid at the expense of their Tax money. But then, the reality is different. The Government is not taking the TaxPayers’ money and giving it to farmers. It is in fact, they are only being given a part of the money taken from the farmers.

According to an independent study, since 2001, farmers are deprived of 45 Lakh Crore in the name of regulating market prices. Even today, farmers are not allowed to sell their produce at their prices and the prices are dictated by the Government in the name of controlling the inflation. So, the governments are only a part of the money they are depriving the farmers.