Peoples’ aspiration for easy money without much effort contaminates socio-cultural life. One must leverage this idle energy to make oneself strong and self-reliant
Post-independent India has done little to prevent the spread of idle energy. Distribution of 35 kg rice at rupees two per kg to each family living Below the Poverty line (BPl) in many States, misdirected subsidies, free distribution of consumer items, food and freebies, among others, have created massive idle energy across the country that has had a negative impact on peoples’ health, productivity and economy of the country.
In rural areas, the banks are asked to meet lending targets. People take loans to create economic assets. When leaders promise loan-waivers, large number of people don’t repay loans, nor do they create economic assets for sustainable income. As a result, banks do not receive re-payment and accumulate bad loans. Over the years, hard work, repayment ethics and entrepreneurship among the villagers has taken a quick exit. This leads to the degradation of social and cultural life. People’s aspiration for easy money and consumer comfort, without doing much work, contaminates the socio-cultural life.
When living close to local politicians brings so many financial benefits to the people, it changes the work culture at its root. The entire village suffers; banks face recovery problems and economic activities come to a grinding halt. Social media too is an aggressive contributor to idle energy. And this idle energy breeds crimes, uncertainty, perennial unemployment and unrest. On the other hand, fanatic religious ideologues take advantage of the situation. Religious preachers market religious faith to those who live in poverty.
The majority of victims of this culture of idleness are Hindus. leaders at the grass-root level must foresee the impact of the idle energy. They should muster courage to dismantle the idle energy and make villagers strong and self-reliant. Poor primary and school education always comes in the way of people becoming conscious voters, vigilant citizens and good borrowers.
Activating village committee, individual entrepreneurship, reviving natural capitals like lakes, ponds, biodiversity, craft and weaving traditions through peoples’ participation will not only empower people of a particular community but will also provide inter-dependent employment to all communities. Inter-dependence among communities brings communal harmony and activates banks’ credit cycle.
Ramadugu village of Karimnagar district, Telangana is famous for stone carving. Artisans of this village make idols of all Hindu gods, goddesses and their mounts, chariots, weapons and thrones with intricate details. It provides employment to traders, middlemen and to all communities in the entire supply chain. The idols are supplied all over India.
Even half-finished idols are brought from other States to give finishing touch in Ramadugu. Though artisans add high value to stone with their hard work and artistic skill, they hardly get Rs 200 to Rs 300 per day. This is the main reason why the younger generation is no longer interested in stone carving.
Traders and middlemen cash-in on the hard work and carving skill of the artisans. Here, the Government should intervene and save the artisans of Ramadugu, which can be an attractive tourist destination. Flowing subsidy will not save the rich tradition. Hand-holding and personal touch will help these artisans.
The artisans should live along with their skills which can encourage the new generation. Stone carving should be a lucrative profession. There are hundreds of craft traditions across the country which need to the preserved for high value addition, export and credit growth.
Honest, hardworking politicians, with anti-hero instinct, can dismantle the iceberg of idle energy, activate entrepreneurship and bring back repayment of ethics among the people. Public sector banks are flushed with fund and can do wonders in rural areas. While attempting to change the credit history in rural areas, there is a need to recover bank loans from wilful defaulters within a time frame.
Defaulters among the top 500 defaulters generated more than 75 per cent of bad loans. If 70 per cent of the bad loans are recovered from them, it would bring the public sector banks back on track and the Government need not have to spend on recapitalisation of banks.
Tough message must be sent to those who are responsible for such defaults. Many rich and influential borrowers know the loopholes in banks and run away with hordes of loans to foreign countries. People with more than Rs 50 crore loan should not be allowed to leave country without any objection from banks. The total bad loans in top 50 accounts of big corporates is estimated at rupees four to five lakh crores. loan default, be it big or small, should meet with zero tolerance. Banking sector provides fuel to Indian growth engine. Nothing should derail the growth engine.
(The writer is a freelance commentator)
