The last budget of the Modi government comes against the backdrop of severe agrarian and rural distress. It is also the last opportunity to undo the damage caused to the rural economy by this government in the last four years. While the government has fi nally acknowledged the gravity of the situation, its response has been limited to empty rhetoric without any fi nancial commitment. Going by the past record of the government, it is clear that it is serious neither in its commitment nor in its intent. The half-hearted measures are not only too little and too late, it is also clear that this budget is unlikely to revive the rural economy.