Government procurement at the minimum support price is supposed to protect the farmer. But it mainly benefits the large traders.
The rising frequency of farmers’ agitations in Tamil Nadu, Maharashtra, Madhya Pradesh and elsewhere and the high incidence of farmer’s suicides are symptoms of a deep malaise in rural India. But beyond scanning the morning headlines, urban India has barely noticed. So long as growth keeps chugging along at 6% plus and food prices remain stable, urban India doesn’t really care.