JOIN USCongress, the largest constituent of UPA government made several promises in its manifesto for 2009 general elections to bring about various economic reforms in the country; however, most of the proposals are yet to see light of the day.
While seeking mandate in 2009 Lok Sabha elections, Congress to woo farmers, made tall promises to provide loans at lower interest rates for those having small and marginal landholdings.
“Congress pledges that every small and marginal farmer in the country will have access to bank credit at lower rates of interest,” the party said in its manifesto adding that interest relief will be extended to all farmers, who repay bank loans on schedule.The party also promised to implement comprehensive crop insurance schemes and examine the feasibility of direct income support to farmers in the ecologically vulnerable regions of the country.
In the wake of large scale protests by the farmers against land acquisition policy of the government for industrial projects, the party also promised that Land Acquisition Rehabilitation and Resettlement Bill will be passed in the 15th Lok Sabha “to ensure that the interests of land-owners are more than adequately protected”. Congress also promised a “new deal” for small and medium scale enterprises and assured greater access to collateral-free credit and liberating them from the multiplicity of laws and forms, and freeing them from the clutches of inspectors. The party pledged a targeted cluster-based approach to the growth of SMEs. and more The party manifesto also spoke of introducing regulations for good corporate governance.