Maharashtra farmers reinvest agri compensation

Mumbai: At least 74% of the 6,486 farmers who have accepted the State government’s compensation for land acquired for the proposed Mumbai-Nagpur Super Communication Expressway have either reinvested in agriculture or aspire to do so.

The findings were part of a private agency's survey on compensation to farmers for the land, also called the Samruddhi corridor, and its utilisation. The survey covered farmers in 10 districts, and the compensation amounts to ₹3,494.27 crore. A report on the findings was submitted to Chief Minister Devendra Fadnavis last week.

Despite reports about farming being not beneficial and the fact that they had sold farmland for a project, the farmers are reinvesting in agriculture, according to the survey. Nearly 50% of the respondents said they aspire to reinvest in agricultural land, while 18% have already done so. Around 6% said they have invested in agriculture-related businesses, such as buying a cotton weighing machine, tractors, bullocks, digging wells in the farm, drip irrigation and fencing of the farm. These apart, they have invested in dairy, poultry farms and kirana or grocer shops.

An official from the CM's office who did not wish to be named said, “Agriculture is still the biggest source of employment and one of the largest sources of income for a majority of people in Maharashtra. Even though farmers lose land in developmental projects, they are willing to invest in farm-related businesses. Such surveys help government form a policy based on the expenditure pattern.”

Education costs

Children's education has emerged as the biggest worry for farmers who have received compensation, with 74% saying they have saved up for it. The other investments from the compensation money include fixed deposits, mutual funds, buying JCB machines, dump trucks, transport vehicles, passenger vehicles, buying land and building a house.

The 710-km proposed Nagpur-Mumbai high speed expressway is estimated to cost nearly ₹46,000 crore, and connect 14 districts in the State. While the State notified land rates in various districts, it is encouraging private negotiations and is ready to pay four times the ready reckoner rates.