Rs.14,00,000 Cr Corp Debt Restructured in 4 Yrs Not Farmers
March23, 2015 (C) Ravinder Singh ravinderinvent@gmail.com
As per RBI report [86488 +294256 +34156 +1221] = Rs.4,26,100 Cr Worth of Corporate Debt was Restructured in Just One Year 2013-14 [Table Given] and over Rs.14,00,000 crores in last four years.
Gross Bank Credit was Rs.35,49,744 crores on February25, 2011 which has expanded to Rs.59,71,200 Crores as on January23, 2015. So in this period Corporate also received Rs.18,00,000 Crores as New Bank Credits also.
Thus Rs.32,00,000 Crores Were DELIVERED to Corporate in just Four Years which neither created jobs, nor IPR, nor Contributed to much GDP growth.
Though 850m Indian Farmers suffered heavy losses in 2014-15 Drought and Floods alone and recently in Heavy Rains at harvest time but Banks in India had not announced a Penny of Restructuring of Farm Loans and Crop Loans.
Incidentally it requires just Rs.5,00,000 crores to Store, Process and Market of Farm Produce by Farmers to Create 20 Crore Jobs and Triple to Quadruple Rural GDP.
How is that only Ambani & Adani are considered Qualified to Process Store & Market Farmers Produce?
70% or More Bank Credits Be Reserved for Farmers and Rural Industries. All Projects in Rural India should be RESERVED for Farmers & Villagers.
Corporate Should Raise Capital through Stock Exchanges where they have Expertise.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857
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