At a news conference in Washington, Gerry Rice, Director of Communications at the International Monetary Fund (IMF) said that they believe the farm bills passed by the Indian government have the potential to represent a significant step forward for agricultural reforms.
“We accept the farm bills do can possibly speak to a huge advance forward for agrarian changes in India. The estimates will empower ranchers to straightforwardly contract with vendors, permit ranchers to hold a more noteworthy portion of the excess by decreasing the part of brokers, improve proficiency, and backing country development,” Gerry Rice said.
Rice added that the development advantages of these changes will depend, basically, on the adequacy and the circumstance of their usage, so consideration should be paid to those issues also alongside the change.
Thousands of farmers, mostly from Punjab, are protesting against the farm laws brought in by the Modi government. Farmers are camping on the roads leading to the national capital and demanding a complete repeal of the agriculture system reform laws.
The three farm laws enacted four months prior to eliminate limitation encourages bypassing of mediators and gives the more prominent opportunity to ranchers to a superior acknowledgment of cost.
Yet, the protesting farmers allege that the new laws benefit corporates, eliminate the ‘mandi’ system, and remove Minimum Support Prices (MSP) provided for some types of agricultural produce.