Goodies for small traders

Collateral-free loans of Rs 50 lakh is not a good idea

Speaking at a traders’ convention in New Delhi, Prime Minister Narendra Modi made a series of promises to traders about changes in government policy if he was re-elected this May. Mr Modi’s Bharatiya Janata Party (BJP) has traditionally been the party of the small business owner, but some of the government’s policies over the past five years have alienated a significant section of its traditional vote bank. Mr Modi clearly intends to win some of them back, as is his prerogative. However, at least one of the promises made by the prime minister deserves a closer look. The promise in