UPA's governance is far sighted: P Chidambaram

SIVAGANGA: Mounting an apparent veiled attack on the governance plank of BJP's prime ministerial candidate Narendra Modi, Union Finance Minister P Chidambaram today said while the UPA was implementing far sighted projects others were sowing hatred and dividing the people.

"There are two types of governance.While we are peacefully implementing far sighted and forward looking schemes that will benefit the future generations there is another type which sows hatred and divides the people. They support one group of people, and try to suppress others," he said without mentioning name of any party or person.

He was participating at an "Education Loan Mela",organised by the Bankers' Coordination Committee here.

He also said the impact of the education, being given on large scale now, would be felt only after ten years.

The Government wanted to help those who were involved in the nation building activities whether constructing roads or houses.

Education loan had benefited backward class people in a big way he said, adding sons of barbers, building workers, panchayat clerks among others had been covered under it.

Stating that Tamil Nadu was among the states which benefited most by the scheme, he said "Any state where Education Loan had been given to a large number of students will definitely be an advanced state in the coming years."

There was a time when only a section of the people could become officers, judges etc. Now a Backward class person had become a Supreme Court Judge, Chidambaram.

The Finance Minister said banks should give help all those who had applied for loan in the Mela,and should not give lame excuses like jurisdiction.

The quantum of education loan, which was Rs 3,000 crore in the beginning, had touched Rs 70,500 crore now. The government was paying the interest for the education loan when the students were studying.Only after they completed the education course they (students) were supposed to pay the interest, the Finance Minister said.

So far government had paid Rs 2,231 crore as interest for the education loans provided by banks, Chidambaram said.

The Finance Minister also agreed that there were likely to be lapses when a great scheme like the farm loan waiver scheme was introduced by government in 2008, when Rs 70,000 crore loan was waived.

The CAG said Rs 230-crore loan waiver had been given to those who were not eligible. "When a great scheme is implemented, small lapses and mistakes can take place. But the majority of the tiny and small farmers have been benefited by the scheme," he said.

The seeds for social revolution in Tamil Nadu were sown by E V Ramaswamy Naicker, Kamaraj and Annadurai, he said, adding, educational institutions were opened for ordinary people by Kamaraj.

In the same way Sonia Gandhi and Manmohan Singh had laid the foundation for revolution in education sector by providing loan for students, and bringing Food Security bill and free medical schemes

Chairman and Managing Director Of Indian Overseas Bank M Narendra and Chairman of Indian Bank T M Bhasin participated in the Loan Mela.