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Indian farmers have threatened to disrupt the country's inaugural Formula 1 race as they claim they deserve a bigger compensation for their land having been used to build the circuit.

The new Buddh International Circuit is being built on the outskirts of New Delhi, and farmers claim their livelihood has been compromised by the loss of the lands.

"We are not against the race, but we feel we have been short-changed in the deal," farmer leader Virender Dhada was quoted as saying by AFP.

"We will stage protest marches and sit-ins next to the track starting October 23 to ensure our voice is heard.

"We are only demanding what is our right. The authorities have been turning a deaf ear to our legitimate demands. If they are willing to talk to us even now, we will stop the planned agitation."

An executive from race promoters JP Sports labelled the farmers' claims as a joke.

"This whole thing is a big joke," the executive was quoted as saying by the Bangkok Post.

"People should not be taking these threats seriously. There is so much riding on the race for the company and the country, do you think we will allow a handful of farmers to spoil it?

"We have spent $400 million dollars on the race and we will spend a few millions more if needed to have adequate security in place. We will do whatever it takes to have a wonderful event."

The Indian Grand Prix takes places on 30 October.