Re:India built the biggest digital payments miracle: Now com...
by ButlerianJihad on Monday August 17, 2026 @08:13PM
(#49339476)
Is "2pc" the same as 2%?
Re:India built the biggest digital payments miracle: Now com...
by sieve on Monday August 17, 2026 @08:15PM
(#49339499)
Yes. Habit from typing on the phone where the % sign is hidden away somewhere on my keyboard!
Re:India built the biggest digital payments miracle: Now com...
by ivell on Tuesday August 18, 2026 @12:25AM
(#49341235)
I think you overestimate how many millionaire farmers we have. Most of Indian farm sector is small holdings and they need the subsidies. Most of the power is with intermediaries and not farmers themselves. The intermediaries fund the farmers through high interest loans and additionally they provide distribution. The situation is much more complex and needs a thorough rework.
Re:India built the biggest digital payments miracle: Now com...
by akshitgaur2005 on Tuesday August 18, 2026 @06:41AM
(#49343736)
The problem is not with the poor/small farmers. Those people are genuinely fucked over. The problem are the larger "farmers", quotations because they do not do the farming themselves, rather renting the fields out to landless laborers at extraordinary costs, in a system reminiscent of the medieval feudal systems
Under Indian law, companies must spend 2pc of their net profit on CSR activities (corporate social responsibility). Ask banks to use that money. The Indian banking sector made a combined profit of $40B this year. 2pc of that is $800M. Close to the $1B number.
> You've got to draw the line somewhere!
Draw it in the farm sector! They do not have to pay income tax on their income, get subsidies on fertilizers, free electricity, guaranteed prices for their crops. Small farmers cannot take advantage due to average holding size, and large farmers laugh all the way to the bank!