March 21, 2022
2 mins read

Farmers faced a loss of $40 billion per year: SC panel

An important recommendation was an alternative mechanism for dispute settlement, via Civil courts or arbitration mechanism, may be provided to the stakeholders….reports Asian Lite News

The three member committee appointed by the Supreme Court had suggested repeal of the three farm laws and said the farmers had faced a loss of $40 billion per year due to the Essential Commodities Act.

Releasing the report to the media, one of the members Anil Ghanwat said, the government should not intervene in deciding the rates for produce and ideally the Essential Commodities Act should not be there. “If at all, then it needs massive reforms. We need to do away with archaic law.”

The broad recommendations include the foremost, repeal or a long suspension of these Farm Laws would be unfair to the ‘silent’ majority who support the Farm Laws.

It also said states may be allowed some flexibility in implementation and design of the laws, with the prior approval of the Centre, so that the basic spirit of these laws for promoting effective competition in agricultural markets and creation of ‘one nation, one market’ is not violated.

An important recommendation was an alternative mechanism for dispute settlement, via Civil courts or arbitration mechanism, may be provided to the stakeholders.

The Government should take urgent steps towards strengthening agricultural infrastructure; enabling aggregation, assaying and quality sorting of agri produce through cooperatives and Farmer Producer Organizations (FPOs), and closer interaction between farmers and warehouses/processors/exporters/retailers/bulk buyers, it said.

“An Agriculture Marketing Council, under the chairpersonship of Union Minister of Agriculture, with all States and UTs as members may be formed on lines of the GST Council to reinforce cooperative efforts to monitor and streamline the implementation of these Acts,” the report said.

Apart from the broad recommendations, the report also gave different sets of recommendations regarding the three laws and another set related to Agriculture price policies.

The MSP and procurement support policy, as was designed for cereals during the Green Revolution time, needs to be revisited, the Committee said.

For wheat and rice, there has to be a cap on procurement which is commensurate to the needs of the Public Distribution System (PDS). The savings from this capping on wheat and rice procurement may be utilized to enhance prize stabilization fund for other commodities such as nutri-cereals, pulses, oilseeds and even onion and potatoes on open market principles, the report added.

ALSO READ: Indo-Israel centre helps farmers in UP

Previous Story

US not satisfied yet in Ukraine talks

Next Story

BSF probing Chinese drone spotted on border

Previous Story

US not satisfied yet in Ukraine talks

Next Story

BSF probing Chinese drone spotted on border

Latest from India News

H-1B visas face fresh Trump crackdown

The Trump administration is tightening H-1B visa scrutiny, examining employer layoffs and renewing a USD 100,000 fee for selected petitions, reports Asian Lite News Desk The Trump administration has tightened oversight of

The 100% Tariff Threat

Trump’s new Russia sanctions law gives Washington power to impose tariffs of up to 100 per cent, raising fresh pressure on major buyers India and China, reports Asian Lite News Desk US

India, Thailand Seek Stronger Trade

India and Thailand have discussed strengthening trade and investment ties, with tariff barriers and balanced trade among key areas of focus…reports Asian Lite News Desk India and Thailand have discussed ways to

India, New Zealand FTA Nears Takeoff

India and New Zealand are expected to bring their free trade agreement into force within a month after Wellington’s Parliament approved the pact…report Asian Lite News Desk The India-New Zealand Free Trade
Go toTop

Don't Miss

New York Fed Welcomes Indian-American Ex-USAID Head

The Board of Governors of the Federal Reserve System appointed

Akhilesh’s wife Dimple to contest Mainpuri LS seat

The polling for the by-poll will take place on December