The Ministry of Consumer Affairs will amend the Essential Commodity Act 1955 to double the income of farmers. The Finance Minister said that in order to increase competitiveness and investment in the agricultural sector The Act, issued in 1955, will be amended.
Oilseeds, beans, cereals, potatoes, onions will now be deregulated. There will no longer be a stock limit for food processing. Exporters will also not face any difficulty. The government can take any action in case of national disaster and drought.
- The finance minister has announced reforms in agricultural marketing reforms. Earlier farmers could only sell to APMC but now this compulsion has come to an end. With this farmers can get good prices.
- This will increase the income of farmers. They do not have to sell their product at a lower price. Products like pulses, cereals, onions, potatoes, mustard, edible oil will be deregulated.
- The agricultural sector is being made more competitive so that farmers can get good prices for these products. Agricultural products will remain deregulated unless the government can take action in a situation like a national disaster. The trader will have to provide information about his stock on the government portal.
The government will bring in a new law to protect farmers from oppression
The government will bring in a new law to create a legal framework for the welfare of farmers. This will not harass the farmers and ensure risk free income
Agriculture Marketing Reform
This step has been taken in the direction that farmers get good prices, no problem in interstate trade. These changes will help farmers double their income