Prominent among the freebies in the manifesto of Jayalalitha led AIADMK Party was the usual promise of 'loan waiver' to all farmers in Tamil Nadu.
It is precisely because of such populist measures that India will continue to be a developing nation.
Chandrababu Naidu and KCR had promised the same in their election campaigns and did manage to reap the dividends. That they completely diluted the promise after coming to power and attached a hundred riders to it; that the farm loans to the bank have not been waived off yet is another thing entirely.
No State whether rich or poor can afford to take on such a huge financial burden. But the only objective for these politicians is to get into the CM’s chair at any cost. And the public with a very short memory keeps voting them back to power.
Ultimately, through such promises, neither do the farmers benefit nor the States. It is only demagogues like Chandrababu, Jayalalitha and KCR who thrive.
