IMF Sees 3 Contentious Farm Laws As Progressive

by Shatakshi Gupta

Protests are going on in country regarding 3 agricultural laws. Farmers have been protesting and demonstrating at the Delhi border for the last 51 days in protest against the three laws related to agriculture brought by the central government. Not only domestically but this demonstration of farmers is also being discussed abroad. In a recent development, the IMF says that all the three recent laws are a step towards agricultural reforms in India.

 The International Monetary Fund (IMF) believes that the three recent laws are silver lining for the agricultural reforms in India. However, the IMF also added that during the process of adopting the new system, the management of social security is necessary to protect those who suffer adverse effects. Gerry Rice, an IMF communications director, said the new laws would reduce the role of middlemen and increase efficiency.

Laws eliminate middlemen 

Also read: Canadian PM Justin Trudeau Backs Farmers’ Protest, Says ‘Will Defend The Right To Protest; Indian External Affairs Ministry Raised Objection

 He said that these three laws have the potential to represent the advancement of agricultural reforms in India. Rice said that these laws will give farmers a chance to make direct connections with buyers. This will reduce the role of middlemen, increase efficiency, which will help the farmers to get better price for their crops and will boost the growth in agrarian sector

 Need to care of these issues

 He said that in the process, such arrangements should be made for the people whose jobs will be lost so that they can be accommodated in the job market.  The benefits of these reforms will depend on the effectiveness and timing of their implementation.  Therefore, along with improvement, these issues also need attention.

On the other hand, the protesting farmers are alleging that these laws will end the system of Minimum Support Price (MSP) and will push the farmers towards corporate farming. However, the government is presenting these laws as major agricultural reforms.