Government will amend the Essential Commodities Act to enable better price realisation for farmers.
The Government Of India has recently announced a piece of uplifting news for the farmers across India where the allocation of 1 Lakh Crore Rupees would be provided in the Agriculture Infra Fund.
The Union Finance Minister of India, Nirmala Sitharaman, announced in the first of the three reforms that are to come into the picture, Amendment of Essential Commodities Act, being the first, wherein the agriculture foodstuffs including cereals, edible oils, oilseeds, pulses, onions and potato will be deregulated. Also, farmers would have the freedom to sell and produce anywhere at an attractive price. However, if any extraordinary case arrives, the government shall then only intervene.
This initiative by the government will make the industry competitive and attract investments. It will also minimise the role of middlemen such as processors, exporters in the process, as no stock limit shall apply to post the amendment. This is a step taken by the Government of India as a relief to sail through the pandemic COVID-19 current situation on the third set of announcements on the mega economic stimulus.
However, The Agriculture Infrastructure Fund being only one part of the whole act, with this the sectors varying from Fisheries, Micro Food Enterprises, Animal Husbandry, National Animal Disease Control Programme, Herbal Cultivation, Operation Green and Beekeeping Initiatives will also be benefited through the act. All of these sectors are separately given a considerate amount of funds to cope with the current situation.
The measures will help the rural economy, our hard-working farmers, fishermen, the animal husbandry and dairy sectors, says Narendra Modi, Prime Minister.