ALL-THAT-MATTERS PAGE IN THE SUNDAY TIMES OF INDIA DATED 9 MAR 2008
Two of the columns, Swaminomics and Men-And-Ideas,
have taken up the waiver of bank loans for farmers announced in the recent Budget. Swaminathan is sure that this is going to fail in both its economic and political objectives. The reasons are threefold apart from almost certain huge leakages in the delivery system. The scheme has nothing for landless laborers. Further at least half of small and marginal farmers borrow from moneylenders and not banks and those who do mostly have landholdings exceeding 2 hectares and hence are ineligible for 100% waiver. This is on account of preference for family holdings rather than individual ones. Moreover less than 5% loans are overdue. Thus the claims made in the budget may be wide off the mark. What is certain is that Banks will now go slow on farm loans for some time at least. Further, borrowers who promptly repaid 95% will have cause for heartburn and may vent their anger by voting against the incumbent party, while the miniscule number who will benefit may not be notably grateful. Electoral gains anticipated by Congress may not be forthcoming.
The other
column terms this waiver outright immoral and recalls a similar waiver of Rupees 9000 crores in 1990 by Devi Lal. It had killed most cooperative and rural banks, borrowers stopped repaying, banks stopped lending and it took 10 years to recover from the imbroglio. A better way of ameliorating the distress and suffering in the rural areas would have been to restructure the borrowings and / or implement a good crop insurance scheme. Mr. Das too stresses the moral hazards and grievances of the honest who have made all out efforts to repay their dues.
Mr. Dasgupta in the Right & Wrong column has titled his piece as Historical Hysteria and while lameting the recent brouhaha about historical authenticity of the film Jodhaa Akbar, notes with satisfaction the override by Supreme Court. The outburst stems from awkward memories of Rajputs genuflecting before the barbaric Tartars which is in stark contrast with the cherished memories of Rana Pratap''s guerrilla war against invaders and
jowhar (self-immolation) by Rajput queens to save their honour. This discomfort is similar to that experienced by Muslim leaders in admitting that Muslims supported demand for Pakistan, especially wherever they were in minority; or that of ultra secular historians who try to rationalize the destruction of Hindu temples by Muslim rulers. Such negationism of history as also efforts at a new social segregation are no good. The author makes an interesting remark that there was little opposition to the earlier blockbuster Mughal-e-Azam as it portrayed a Muslim prince falling in love with a Muslim courtesan and not an inter-faith liaison.
Ms. Karkaria in the column Erratica rushes to defend the sober rule-following car owner who may be faced with a lynch mob if he were to even so much as scrape against a pedestrian materialising in the middle of the road out of thin air. The column begins with a poem attributed to Nancy Sinatra’s father that goes as ……..One of these days these pedestrians / Are going to walk all over you. She wonders whether the pedestrians flouting all rules and merrily rushing, individually or in groups, all over the road with gladiatorial intent, harbour a death wish. She paints a picture of hand-wringing
drivers as pedestrian saunter though speeding traffic with invincible disdain, which immediately strikes a chord in drivers’ collective heart: Drivers who, in the Indian
ego-system, are always held to be in the wrong despite having the right of way on the road.
Jug in his Jugular Vein talks of Bangalore going flat out on two diametrically opposed facets of the city. One that zooms along at Silicon speeds and the other that is very laid back and lets you just hang out, or chill out, or just watch the world go by. The second impression has arisen in the author’s mind because of brokers who are taking a long time in finding a tenant for his flat in Bangalore. This is cleverly echoed in the title of the article – Flat Out.
These brokers, who spend quite some time on telephone exchanging pleasantries with him, had assured him that finding a tenant in Bangalore will be easier than having farm loans waived in a pre-poll year. The flat continues to be without a tenant and occupied by spiders who just tote around their old webs as they are too laid back to spin a new cobweb.
Mr. Tharoor in Shashi on Sunday, who was born on the March
Shivratri day a couple of years more than five decades ago, notices rather woefully that 50 is the new 40 on account of enhancements in longevity. 40 used to be forbiddingly middle-aged when all potential had been exhausted. One ought to make his mark by 50 for it is the new landmark when irrelevance becomes imminent, avenues close, and choices are no longer available. As opposed to 50, 52 (his current age) does not appear to have any particular significance. It is just 52 and not out as the cosmic umpire is not yet readying to raise his finger. So you just carry on and do the best with your enriched understanding of the playing field and the game.