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The article “A new Chaudhary from Harvard via Rae Bareilly?” (Business Line, March 2) has been well-researched in short time.

It has a story that had to be told but was not. Without going into the merits of the loan write-off proposal, I would like to add a few thoughts about its presentation.

The Finance Minister referred to the Radhakrishna Committee and said (Speech para. 73) “The Committee has made a number of recommendations but stopped short of recommending waiver of agricultural loans. Government however…” He thus goes out of his way to emphasise publicly that the loan waiver decision is against the Committee’s recommendations.

Was Mr Chidambaram’s heart really and fully (as distinct from officially) behind the waiver scheme? Three days before the Budget, one headline news item announced (February 26) “Sonia directs Government to grant loan waiver to farmers,” and gave elaborate details. Perhaps a Raibareilly after-effect for a reluctant Finance Minister?

Mr Chidambaram is meticulous and knows each of his proposals and decisions. But the loan waiver proposal is not free from gaps, uncertainties and controversies.

Dattatraya R. Pendse e-mail

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