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MATHURA, India - Indian Prime Minister Narendra Modi has drawn up new targets to boost farmer incomes as he seeks to secure his legacy of reforming the world's largest democracy and tries to assuage a key voting bloc disillusioned by his government's past failures.Modi, who is eyeing a rare third term in ongoing elections, wants to lift rural per-capita income by 50% by 2030, according to documents reviewed by Reuters.
"I think Modi’s economic legacy will hinge, at least in part, on what happens to this large share of rural dwellers." By then, Modi wants corporate investments in agriculture to jump to more than 40% by 2047 which will aid mechanized farming, help develop more warehouses, cold storage facilities and food processing units.The new targets, however, are seen by many farmers spoken to by Reuters in Uttar Pradesh, Maharashtra and Odisha as tough to achieve.
Opinion polls had predicted Modi's Bharatiya Janata Party and its allies could win up to three-fourths of parliament's 543 seats at stake, but lacklustre voter turnout is creating doubts about the outcome. The government"should explain things to us properly so that we are aware of the pros and cons of higher corporate investments," Kumar added.
As incomes fell, farmers hit the streets again earlier this year seeking legal guarantees for government minimum support prices for all their crops.
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