Bankrupting the nation
This will result in a lot of party workers, civil servants and other assorted constituents getting rich. My guess would be that a large majority of the disbursements will be on paper and will be made to fictitious persons. Back in the 1980s, economists & bank officials had apoplexy when Janardhan announced his loan-mela scheme. It was disastrous and was one of the many causes that ended up bankrupting the nation.
Once the Loan Melas’ ended, the boom ended and India was caught in a vicious spiral, even worse than where it was before the boom (hard as it is to imagine). The banks were caught with unbelievable amounts of bad loans and many were solvent only in name. The following recession and the near collapse of the banking industry hobbled India well into the early 90’s. No one knows what became of JP [Poojary] though most speculate he retired in a good comfortable home and probably gave himself a small loan in the end for his efforts.The Congress & the left parties continue to enrich to their vote bank at the expense of the nation. As always.