If we go by the history, the situations and circumstances which were prevailing then have necessitated the formulation of certain guidelines or systems with regard to providing necessary infrastructure for farmers to sell their produce by establishing APMC/MANDIS, Assured payment of minimum support price, and see that certain section of commodities are put under Essential Commodities list.
With the passing of farm bills, there has been considerable doubt and worry in farming community. Their main concerns are whether the APMC/Mandis will exist, Whether the Government will abolish the concept of Minimum Support Price, and with the new provisions, whether influence and dominance of corporates will be more.
Let us try to understand, whether the above are merely apprehensions of farmers, or they are really threats which are looming on them or these new changes will bring the desired growth in their income levels and will be definitely a right and big step towards better future.
Essential Commodities (Amendment) Act, 2020
If you consider one of the farm bills which is The Essential Commodities (Amendment) Act, 2020 has certainly diluted the main purpose of the act which was enacted way back in 1955. The Act has been an effective tool, wherein the Government could intervene and control the rise of prices of essential commodities which are coming under the act. The commodities which are covered under the act are essential drugs, fertilizers, pulses, edible oils, and petroleum and petroleum products.
This story is from the May 2022 edition of BANKING FINANCE.
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This story is from the May 2022 edition of BANKING FINANCE.
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