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Punjab Newsline arrow More in Articles... arrow Liberal car loans, a bane for India
Liberal car loans, a bane for India Print E-mail
G.S.Bhalla* and Hema Khanna**   
Thursday, 08 March 2007

The government on the one hand talks about the judicious use of  precious oil and  pollution control, while on the other hand it has facilitated the purchase of cars through liberal and easy finance.

Here, three aspects of this governmental policy deserve attention; Firstly the sale of ‘foreign brand’ cars, wherein a substantial portion of the profit goes to the foreign country. Secondly, the fuel on which these cars run, again results in our valuable foreign exchange going into foreign hands.

Lastly, finance for purchasing these automobiles is being provided out of Indian savings by the various nationalized banks liberally.

From the above it is clear that   the  end result is the diversion of the hard earned Indian savings  for a purpose detrimental to the Indian economy As also it amounts to the government turning a  blind eye to the ecological aspects involved there in. 

Environmentalists should come forward and promulgate the idea that more cars mean, the need for more roads, more parking places, more accidents, less cultivable land and a lopsided ecological balance – a potent threat to our very existence on the globe.


The government in its capacity should put an end to its liberal finance policy for the purchase of cars and make sincere efforts to strengthen the public transport system It would be healthy from both the economic as well as the ecological angle.

It is poor economics and unworthy ecological practice to use a multi horse-power, motor driven vehicle to transport one person to work. In India, it is something, happening all the time.Surveys conducted at various road intersections have revealed that almost 80 percent of passing cars were carrying only the driver.

Keeping in mind that India is a poor country – a majority of its population cannot afford the luxury called a car. Statistics reveal that 37 percent of India’s population lies below the poverty line, with a per capita income lower than that of Bangladesh, Nepal and Bhutan.  Over the 53 years since independence, the Government has not strengthened the public transport system enough to reduce dependence on personal vehicles.

Ironically in India, bicycle due to lack of a government drive to encourage its use, coupled with a lack of adequate public propaganda in its favour, and, the extremely status conscious nature of the Indians is dying a slow death. In Singapore, a car is challaned if it has less than four occupants. A German city is doing away with cars on an experimental basis. In China, almost the entire nation rides the bike. Even in the US, more than 80 million bicycles are in use. This comes close to almost two bikes per family and that too in a country which is many times economically powerful than India.
 
Keeping in view the delicate ecological balance, cars should be avoided and their use in no case should be encouraged by providing liberal finance by governmental agencies. Further, car fumes have been proven to be pure poison and scientists have conceded that cars are more dangerous an invention than the nuclear weapon.
 
Cycling is known to be nature’s best tranquillizer. A renowned doctor writes, “There is something in the smooth and rhythmic movements of leisurely cycling that has a tranquillizing effect on the mind. It is also a known fact that persons with sedentary jobs are twice as much likely to suffer heart attacks than those who perform more active work. Research has also revealed that a high degree of physical fitness helps individuals withstand a level of stress which might be fatal to others.
 
Public opinion and attitudes need to be overhauled regarding the use of bicycles. The ‘status factor’ in Indian minds needs to be altered. As somebody has rightly observed, “We Indians are too status conscious, we are yet to learn to think rationally, it is improbable that we would risk going out on a bicycle lest our false status be hampered or our vanity challenged.”
 
*Dr. G.S. Bhalla, Professor, Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar.

**Hema Khanna, Doctoral Research Scholar, Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar.

 
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