A relief package for farmers will be a key focus in the budget as they make up a large proportion of the Indian electorate and many of them struggle with high debt and crop failures, analysts said.
“A farm sector package will be a centerpiece of the upcoming Budget, due to the crucial importance of the farmers’ vote, with 69 percent of India’s population still living in rural areas,” said Biswas.
“Key measures that could be included in the BJP’s farm package include income support measures and interest relief for crop loans for small farmers to help mitigate the impact of rural debt distress in many states,” Biswas added.
But the devil is in the details, as debate is ongoing as to what form that relief could take.
Rhetoric has been split on whether the package would include a cash transfer scheme for smaller farmers, loan waivers, or a broader universal income scheme, according to Radhika Rao, an economist at Singapore bank DBS.
Other measures may include personal income tax relief for low income households, and measures to reduce tax and regulatory burden on small and medium-sized businesses, according to Biswas and some other analysts.
from Viral News Updates http://bit.ly/2FYClO5
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