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ET Bureau|Updated: Feb 04, 2019, 08.38 PM IST

Farming is just not worth it for many of the millions dependent on it. But they are left with little choice. This stark reality, along with a worrying paucity of jobs, will weigh heavily on the upcoming general elections. Growth in agriculture trails that of the economy and agriculture’s share in the national output has declined drastically over time — from around 50% in the early 1950s to 17% in 2017-18.

But the ruling Bharatiya Janata Party hopes to endear itself to the agrarian community with its latest salvo. In a widely anticipated move, interim finance minister Piyush Goyal, in his budget speech on February 1, said 120 million farmers with less than five acres each, who account for over 85% of India’s farm holdings, would get Rs 6,000 each annually. Read more

By TK Arun ET Bureau| Updated: Feb 03, 2019, 06.16 AM IST

A spectre is haunting India. A spectre of never-ending handouts, which would bring some relief to the really hard-up, remove the incentive to strive for the rest and starve the economy of the funds it needs for investing in productivity boosting human capability and physical infrastructure.

Time was when politicians promised voters a cycle, computer or TV set, won their favour and made commissions on wholesale purchases of the said gifts, and proceeded to live happily at least for the rest of the term. Then came the recurring expenditure on heavily subsidised food. Read more