The Hindu Business Line : Loan waiver for farmers a fire-fighting operation

Madurai, March 25 The Union Finance Minister is lucky to have presented his Budgets in a booming economy. The situation could be sustained only if the problem of distribution of power and its quality is addressed competently, said Mr Nirmalnath, General Manager, Hi-Tech Arai Ltd, Madurai, here.

He was leading a panel discussion on ‘Union Budget 2008-09’ with reference to industry, organised by the Post-graduate and Research Department of Economics and the Office of the Dean of Women Students of the American College in association with Business Line.

Listing the allocations, he highlighted that the Finance Minister has, however, failed to provide for environmental protection.

Structural problems

Touching on the controversial loan waiver in favour of the farmers, Dr Paramasivam, Professor and Head, Department of Agricultural Economics, Tamil Nadu Agricultural University, Madurai, observed that in agriculture, the structural problems like production costs and input costs needed more attention. The move can be considered as a fire-fighting operation. He remarked that no capital formation has taken place in agriculture and a single budget would not make a difference. India cannot grow without development in agriculture, he emphasised.

Dr N. Manonmoney, Professor of Economics, Madurai Kamaraj University, was the moderator. Dr T.Chinnaraj Joseph Jaikumar, Principal and Secretary, The American College, delivered the introductory remarks. Mr C. Narayanasami, Deputy Branch Officer, The Hindu, Madurai, and Dr Mohan, Head, UG Department of Economics, were present.

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