60,000 crore Loan waiver

New Delhi: Finance Minister P Chidambaram on Friday presented a Budget which waived off loans worth Rs 60,000 crore to small farmers, hoped for an 8.8 percent growth and announced several social sector schemes.

Source - IBNLIVE.COM

How do you define a small farmer ?

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Is there a fool-proof mechanism in place to identify them ?

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Who is going to pay for this waiver ?

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