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Agree. Antiquated Indian farm subsidies are the biggest impediment to sustained growth. Nothing can be done, because it'd be electoral suicide to touch them. In
by jeswin 2mo ago
Agree. Antiquated Indian farm subsidies are the biggest impediment to sustained growth. Nothing can be done, because it'd be electoral suicide to touch them. India's holding more than 100 million tons (!) of grain due to the mandatory procurement policy. It is not merely wastage, but also an environmental disaster to keep doing this.
$1B or even $5B is nothing, given the impact UPI has had across the country.
- thisislife2 2mo agoMost of these reserve grains are already being diverted for Ethanol production once they "expire". It is sold to these Ethanol producers at low rates (subsidised). The Ethanol producers however sell these grains and make a tidy profit. They also buy back near-rotting grains dirt-cheap from these same suppliers and other markets. And then make Ethanol from it. The suppliers who bought the rice illegally, repack it and sell it again to the government! A good example of indian systemic corruption - Ethanol manufacturing: The ₹1,000 crore rice scam explained - https://www.youtube.com/watch?v=5lMw47iw6PQ https://www.youtube.com/watch?v=5lMw47iw6PQ