Nirmala Sitharaman announces the 3rd installment of the stimulus package for the Farm Sector.
On Friday, May 15, 2020, Finance Minister Nirmala Sitharaman arise sweeping reforms for the Farm Sector including a new Central law and it will enable farmers to sell their produce freely and get better prices for them and also include Rs. 1.5 lakh crore package to strengthen infrastructure and managing to help value addition.
The condition of farmers are more critical by considering this, the government decided to formulate a new Central law which provide the farmers, a barrier free inter-state trade of farm produce and more freedom to sell directly or even on online, they can sell their produce. And the Government also decided that the Essential Commodities Act will be amended to decontrol trade in cereals, edible oils, oil seeds, pulses, onion and potato, and the stock limits for these will be imposed but only in exceptional circumstances.
After the Friday’s announcement by Finance Minister Nirmala Sitharaman, about the Rs. 1.5 lakh crore package for Farm Sector. Prime Minister Narendra Modi tweeted that the steps will “help the rural economy, our hardworking farmers, fishermen, the animal husbandry and diary sectors” and “boost income of farmers”.
Home Minister Amit Shah called the reforms historic and said “The Central Law will enable farmers to sell their produce for better prices, to any state without barriers, and e-marketing will help them to reach all corners of the country”.
Chair Professor at Indian Council for Research on International Economic Relations Ashok Gulati said in the support of the Prime Minister Narendra Modi’s decision, “The Modi Government has converted crises into an opportunity in agriculture marketing”.
Rs. 1.5 lakh crore packages seeks to strengthen farm instrument and logistics for the sectors and the reforms helps the farmers to sell produce at higher prices and it also give the farmers greater freedom.
