Rs. 6000 Cr 1 Yr 0% Loan to Sugar Mills, 30% Loan to Farmers
June11, 2015 (C) Ravinder Singh progressindia008@yahoo.com
Government promised all help and priority to Farmers but as these two stories in ET reveal while Cabinet has approved Rs.6000 Cr Loan to Sugar Mills at Zero Per Cent interest – Banks in Violation of RBI Orders to Convert Short Term Crop Loans to Long Term Loans is not being implemented, Farmers Are EXPLOITED TO PAY 30% INTEREST ON LOANS BY MONEYLENDER.
India produced 28.5 Million Tones of Sugar 2014-15 Season which is same as in 2006-07. But Consumption of Sugar is just 24 million tones.
What is Most Shocking is that International Price of Sugar is Rs.23 per and our Sugar Mills are getting Rs.26 per kg but Consumers are Charged between Rs.36 for Loose to Rs.45 for Branded Sugar – 50% Margin.
Even as Wholesale Price has fallen from Rs.33.5 per kg a year ago Consumers are not Getting the Cheaper Sugar.
Banks are Furiously Recovering Short Term Loans to Farmers in spite of Double Damage of No Increase in MSP and Crop Damage Repeatedly by Rains & Storm.
Farmers are driven in to the Clutches of Moneylenders who Support Half of India’s Goons and indulge in BLACK MARKET.
THIS IS THIRD BREACH OF PROMISE TO FARMERS & PEOPLE OF INDIA TO RECOVER BLACK MONEY.
Even I am SURPRIZED to Find RBI order to Convert Short Term Crop Loans to Long Term is NOT PUBLICIZED BY Chengal REDDY or Ajay Vir JHAKHAR.
IT IS IMPORTANT TO MENTION HERE THAT FARMERS CONTRIBUTE 30% to 50% OF TAXES BUT TERM LOANS SANCTIONED TO FARMERS ARE NOT EVEN 3% OF DEPOSITS.
AMBANI BROTHERS GET MORE TERM LOAN THAN ALL 800 MILLION FARMERS.
Food requirement of Farmers is over 75% in view of hard work, SUPPRESSING THEIR INCOME OPPORTUNITIES INDIA IS STARVING 800M PEOPLE.
Bank Deposits in Rural & Semi Rural India exceed Rs.18,00,000 Crores But TERM LOANS TO FARMERS ARE NOT EVEN RS.200,000 CRORES.
GROWTH OF INDUSTRY & ECONOMY IS NOT POSSIBLE WHEN MOST HARDWORKING PEOPLE ARE DEPRIVED OF CREDIT FOR ECONOMIC ACTIVITY, DENIED ADEQUATE MSP FOR THEIR PRODUCE.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857
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