In a boost for the govt of India amid ongoing farmers' protests at various borders of Delhi, the International Monetary fund (IMF) has suggested that the farm laws gone by the Indian government have the potential to represent a big breakthrough for agricultural reforms, reports.
“We believe the farm bills do have the potential to represent a big breakthrough for agricultural reforms in India. The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the excess by reducing the role of middlemen, enhance efficiency and support rural growth,” Gerry Rice said. ( Director of Communication at IMF ) in a press conference at Washington.
Rice added that the expansion benefits of those reforms will depend, critically, on the effectiveness and therefore the timing of their implementation, so attention must be paid to those issues also along side the reform.
Thousands of farmers, mostly from Punjab, are protesting against the farm laws brought in by the Modi government. Farmers are camping on the roads resulting in the capital and demanding an entire repeal of the agriculture system reform laws.
The three farm laws enacted four months ago removes restriction, facilitates the bypassing of middlemen, and provides greater freedom to farmers for a far better realization of price.
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