India

India: Government raises compensation to farmers

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In a major relief to the farmers affected from unseasonal rain and hailstrom over the past few weeks, Prime Minister Narendra Modi today announced increasing the compensation limit by 50 percent.

Addressing a function in New Delhi after launching Pradhan Mantri Mudra Yojna, the Prime Minister said that farmers will now be eligible for input subsidy if 33 percent of their crop has been damaged, in place of the existing 50 percent.

The Prime Minister expressed concern over the problems faced by farmers due to abnormal weather over the past year. He said that helping the farmer in their of distress is government's responsibility and Union and State Governments, banks and insurance companies would all do their utmost to provide relief to the farmers.

@BJ-08.04