Modi's $10.6 Billion Bounty Seen Giving Little Relief to Farmers
- Farmers say the $84/year is very little to address their woes
- Modi faces national polls due by May after losing key states
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Prime Minister Narendra Modi’s 750 billion-rupee ($10.6 billion) annual plan to provide cash to small farmers is likely to do little to end farm distress.
Modi unveiled the program with fanfare on Sunday, depositing the first installment of 2,000 rupees each to 10 million farmers directly in their bank accounts. About 110 million more people will receive the funds by March 31 -- weeks before the world’s largest democracy goes to polls. According to the plan, farmers with as much as 2 hectares (4.9 acres) of land will get 6,000 rupees ($84) a year in three equal installments.