Nidhi Nath Srinivas: China rolls out new farm policy

From India’s The Economic Times:

Mr Finance Minister, pick up your pen and take a few notes. China is entering a whole new era in farm policy this year with a slew of subsidies after its gets derailed by a legacy of stiff taxes.

With the Budget round the corner, Beijing’s smart moves may help the FM’s crack A-team get a feel of what it’s like to walk down the same road.

China has now introduced direct subsidies to farmers, begun to phase out its centuries old agricultural tax, subsidise seed and machinery purchases, and increase spending on rural infrastructure.

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