New Delhi: Prime Minister Narendra Modi said on Saturday that economic indicators have begun to look encouraging and the recovery is going to be ‘faster than expected’. He said this while addressing the annual convention of industry body Ficci.
Modi said that the government is working on increasing the farmers’ income and defended the new agriculture bills. He said, “Ethanol production would increase the income of the sugarcane farmers and generate employment. Government has focused on blending 10 per cent ethanol in auto fuels. It has helped to clear payments to cane growers by millers.”
“The farmers were earlier having the option of production of sugar or jaggery from the sugarcane. Now they have one more alternative of producing ethanol from cane which will help them increase their income. This will also help in generating more employment,” he further added.
Though farmer unions are agitating against the new farm laws, he strongly defended the laws stating that it will help farmers multiply their income and will boost the Indian economy.