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https://twitter.com/NotyourVivek/status/1761020599089152318
Let's make all policies based on the extreme ends of society, based on isolated and disparate data points - we will have such beautiful laws to deal with thereafter.
All this requires is a forensic audit of those holding benami agricultural and claiming agricultural deductions. It's nothing new for most competent chartered accountants.
Incidentally, my father goes through an audit for his agricultural income claims every year by some shady income tax officer and every damn year they expect a payoff.
When it comes to false agricultural income claims, the officer can't prove anything as a lot of cash transactions take place but the officer sure as shit can make your life very difficult with just his suspicion alone. Incidentally said suspicion all goes away once the officers see some green.
If you look at India over the last 30 years - rural incomes have been left far behind. This is only set to continue as the rush to the cities increases. Plus what happens to farmers in the bad years huh? The thing morons in cities don't understand is that agriculture is hit and miss game.
It's riskier than running some consumption-based business as well. You are left to the various vagaries of nature every year not just to the demand-based economy.
You suffer if there is a supply glut. You need everyone else to have a bad year and you to have an exceptional year for the best windfall. One year you make it, the next year you could flop. See the problems?
No one lends you any money as crop loans are not given out much. Why? Because your risk profile is off the charts. You can call it a priority sector but priority sector lending remains limited and most banks don't ever meet their targets.
Incidentally, corporate loans in India have a far greater default rate than agricultural loans. The farm loan waivers cost less than these corporate loans ultimately to the exchequer - so let's not even talk about moral hazard for f%#k's sake!
There is a goddamn reason behind some of these policies but sure take a Twitter post or a financial influencer's advice and advocate for a policy change. Insidiously, when there is ongoing farmer protest.