BANKS ADVANCE ‘POCKET MONEY’ TO INDIAN FARMERS NOT LOANS
June14, 2017 (C) Ravinder Singh progressindia2015@gmail.com
Only good thing for Farmers was Nationalization of most Private Banks in 1969 with a view to provide Bank Credit to Farmers and MSMEs.
But Nationalized Banks CONSPIRED and advanced Short Duration Loans to Farmers called ‘CROP LOANS’ which are nothing but ‘Pocket Money’ to Farmers to spend when Farmers has little money to SURVIVE for 4-5 months between Sowing & Harvesting of Crops when Farmers have no Income but incur steady expenditure on Family & Farming.
Just after HARVEST Farmers are COMPELLED to sell all their CROPS to RECOVER ‘Pocket Money’ in FULL NOT IN EASY INSTALLMENTSand farmers who delay payments get NOTICES and RECOVERY AGENTS, just like Moneylenders.
Even when like in Punjab raising MULTIPLE Crops Farmers get short duration Loans which nothing but Pocket Money.
‘FARMERS DON’T GET DEVELOPMENT LOANS’
1. While DLF or Private Companies get Loans to a.] Buy Land, b.] Construction and c.] Loans to Buy Flats, d.] Income Tax Rebates on Rental Income etc without Upper Limit – Could be Rs. Hundreds of Crores. FARMERS and Rural Economy don’t get any support.
Ø MP state under PM Gramin Awas Yojna for SUBSIDIZED RURAL HOMES – People
were told to DEMOLISH Their Old homes to get SUBSIDY WITH LOANS – but after most villagers DEMOLISHED their homes, they were told the Scheme is For Homeless and Only Women were Entitled to SUBSIDIZED HOME LOANS – Most Lost their homes.
2. TRADERS get Bank Loans to Buy, Hoard, Import Foods, when Farmers Producing
Foods are not eligible.
Ø BANKS SUPPORT TRADERS & MONEYLENDERS – EXPLOIT FARMERS & CONSUMERS.
Ø Banks Don’t SUPPORT Farmers to STORE Perishable and Non Perishable Foods When
Prices are Below Cost of Production – ENRICH TRADERS & MIDDLEMEN.
3. BANKS DON’T SUPPORT SMALL & MEDIUM SCALE INDUSTRIES, FOOD PROCESSING.
http://www.kvic.org.in/kvicres/gur.html,http://www.kvic.org.in/kvicres/update/pmegp/New%20PMEGP%20guidelines.pdf
Ø Farmers setup Small Scale SUGARCANE Processing units – but don’t get BANK LOANS or Electric Connection – use DIESEL ENGINES for Crushing Sugarcane.
Ø It cost Practically Nothing to Create 1.26 Cr Jobs under PMEGP – Rs.1 Cr Subsidy Creates 300 Jobs. [323,000 Jobs/Rs.1020 Cr – Clippings from KVIC AR2015-16]
Ø But PMEGP scheme is administered by KVIC with limited budget of Rs.1614 Cr than Rural Branches of Nationalized Banks who ADVANCE say Rs.800,000 Cr ‘Pocket Money’ than FUNDING DEVELOPMENT OF RURAL INDUSTRIES & FOOD PROCESSING.
It is clearly established there is SYSTEMATIC POLITICAL CONSPIRACY AND EXPLOITATION of Indian Farmers.
Ajay Vir Jakhar INC or Krishan Bir Choudhary BJP On Payrolls of Traders, Moneylenders had MISLED INDIAN FARMERS – Actually Support Corporate Farming for Example.
Farmers Own 16 Cr Hectares of Farm Land worth Rs.16 CrXCr. Or 16 Times The Stock Market Capitalization Get Just 0.5% Of Land Value as ‘Pocket Money.’
http://www.kvic.org.in/kvicres/update/AR/Annual%20Report%202015-16.pdf – http://www.kvic.org.in/kvicres/gur.html
Production of Khadi recorded Rs.1065.60 crore during the year 2015-16 and khadi activity provided employment to 11.07 lakh persons. Village Industries Programme has also shown a significant progress by registering production of Rs.33424.62 crore, providing employment to 126.76 lakh persons. –The Prime Minister’s Employment Generation Programme (PMEGP) which was launched during 2008-09 has been established as the most effective tool for rural industrialization. During 2015-16, 44340 micro enterprises were to set up providing employment to 3.23 lakh persons under the scheme. Government of Indiaprovided margin money subsidy amounting Rs.1020.06 crore to facilitate in setting up units under this scheme.
Farmers are Denied Good Education, Healthcare, Personal Loans, Housing Loans, Canal Irrigation – Besides FUNDAMENTAL RIGHT TO PRODUCE, STORE, PROCESS THEIR OWN PRODUCE.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
NDTV RAID: MAY EXPOSE RS.40 LAKH CR INTEREST BENEFIT SCAM: WHAT CALCULUS?
When GOI launches Politically Motivated RAIDS on opponents and even MEDIA and FALSELY implicate MULTINATIONAL in criminal case PESTICIDES and Heavy Metals in Drinks & Noodles – the signal, Is the calculus run the government.
When it RAIDED NDTV for some REBATE in settling Bank Loan – it didn’t realize in reducing INTEREST rates from say 10% to 8% on Rs.40 Lakh Crore TERM LOANS to Corporate which are of around 15 years average duration – Interest Benefits to Corporate is Rs.40 Lakh Crores. [Rs.100 Loan results in Rs.317 interest @10% and Rs.217 @8%]
So the Government had already Granted Rs.40,00,000 Cr Benefit to Corporate – Banks shall be recovering Rs.40,00,000 Cr Less from Corporate.
‘—banking system is saddled with close to Rs.14 trillion of bad loans, including those turned dud after restructuring.’ PTI Reporting last page
Even After Rs.40,00,000 Cr Booster Dose Industry is Crashing. But strangely Stock Market is Booming. How?
Corp BOOST Wisely Invested is GOOD ENOUGH TO BUILD MULTI-PURPOSE HYDRO POWER PROJECTS, PROVIDE CANAL IRRIGATION TO 2-3 TIMES MORE AREA, FLOOD PROTECTION, RURAL FOOD PROCESSING, HOUSING, SERVICES LIKE EDUCATION, HEALTHCARE, INFRA & CREATE 2-30 CRORE REGULAR JOBS.
Arun Jaitley is Operating as Recovery Agent of Banks – Softening NPA Burden of Companies so that Ambani or Adani may takeover Air India and other companies at very low price.
Jaitley let Rs.1.5 Lakh Crores for CORRUPTED HIGHWAYS in UP – Center to Build State Highways Without any Traffic Study or Project Report – than other High Priority sectors.
Farmers are treated DIFFERENTLY – they get Bank Loans as ‘CROP LOANS Which is basically POCKET MONEY – after sowing Farmers have little money for Household Expenditure, School College Fees of Children, Healthcare, Fertilizer & Pesticides’ – On Harvest ‘CROP LOANS are Recovered.’
GOI don’t provide TERM LOANS to Farmers to ADD VALUE to their produce. GOI facilitate MONEYLENDERS & TRADERS TO RECOVER high interest Private Loans, and TRADERS Loot Farmers who get just 20%-30% of retail price.
Cost of Higher Education alone is up to 38% to 43% of Household Expenses, yet 90% to 95% Educated from Rural Background don’t get jobs.
Arun Jaitley will report ‘Inflation is Down’ and Excuse for Lower Interest rate – at a time USA is increasing Interest Rates.
When actually it is ‘LOSS OF INCOME’ – 25% Less Interest Income on Deposits, Rising Cost of Education, Heathcare, Transport, Power, Cement, Steel, Fuels – LPG alone has gone up 80%. Prices of FMCG has gone up 50% in three years.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
INDIAN ECONOMY SO FAR
Economy so far
(June 13, 2017)
(June 13, 2017)
· April 2017 IIP grows at 3.1% – Growth in industry output, as measured in terms of Index of Industrial Production (IIP), for the month of April 2017 stands at 3.1% as compared to 2.7% in March 2017. The growth in the three sectors mining, manufacturing and electricity in April 2017 stands at 4.2%, 2.6% and 5.4%, respectively over April 2016. The cumulative growth in these three sectors during April-March 2016-17 over the corresponding period of 2015-16 has been 5.4 %, 4.9 % and 5.8 % respectively.
· May 2017 CPI inflation stands at 2.2% – The all India general Consumer Price Index (CPI) (Combined) for May 2017 stands at 2.2% as compared to 2.9% in April 2017. The inflation rates for rural and urban areas for May 2017 are 2.3% and 2.13% respectively as compared to 3.02% and 3.03% respectively, for April 2017. Rate of inflation during May 2017 for sugar and confectionery stands at 9.84%, pan and tobacco at 6.17%, cereals and products at 4.8%, milk and products at 4.5%, egg at 0.72%, spices at 0.52%, pulses and products at (-) 19.4% etc.
· Government rules out centralized registration for banks under GST – The government has ruled out centralized registration for banks under the goods and services tax (GST) and has mandated separate registration for each state they operate in. Banks have been demanding a single centralized registration system, like at present, stating that multiple registrations would create procedural and compliance problems.
· Centre approves highways and waterways projects worth Rs 1.5 lakh crore for Uttar Pradesh – The Union Government approved national highways and waterways projects worth Rs 1.5 lakh crore for Uttar Pradesh. The projects also include creation of infrastructure in Allahabad for the Kumbh festival that will be held in 2019. 72 state highways would be upgraded to national highways, 15 greenfield highway projects would be taken up and the National Highways Authority of India (NHAI) will also build an expressway connecting Lucknow with Bundelkhand.
· Atal Pension Yojana (APY) included under Section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016 – Atal Pension Yojana (APY) has now been included under the Section 7 of the Aadhaar Act. As per the provisions of the Act, any individual who is eligible to receive benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication. Accordingly, an APY subscriber will have to get the Aadhaar number recorded in his or her APY pension account and also in his/ her savings account where the periodic pension contribution installments are debited and government co-contribution is to be credited.
MEDITERRANEAN MIGRANT ARRIVALS REACH 73,189 IN 2017; 1,808 DEATHS
Tue. June 13, 2017
Switzerland – The UN Migration Agency (IOM) reports that 73,189 migrants and refugees entered Europe by sea in 2017 through 11 June, with almost 85 per cent arriving in Italy and the remainder divided between Greece, Cyprus and Spain. This compares with 211,433 arrivals across the region through 11 June 2016.
IOM Rome spokesperson Flavio Di Giacomo reported that since Friday, when IOM last released figures, over 3,000 migrants and refugees have been rescued between Europe and the North African coast, numbers that are not reflected in the official numbers shared by Italian authorities as not all those men, women and children have arrived in port.
Di Giacomo said on Monday that over the weekend, 2,942 migrants were rescued by the joint efforts of NGOs and Italian and international military ships. He added that on Monday a Swedish ship operating under Operation Triton rescued 356 migrants at sea from three dinghies and brought them to Catania. The 79 survivors on one of them had partially sunk and at least 61 migrants who had been on board remain missing at sea. Eight bodies (two men and six women) were also recovered from that same dinghy. At least one other victim was reported in a separate incident, whose remains were brought to Palermo.
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