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

Will Wang Yi’s visit ease India-China tensions?

Next Story

BSF probing Chinese drone spotted on border

Latest from India News

Recovery From Realty Stress Rises

Crisil expects residential demand in these markets to grow by 7–9 per cent in FY26, offering critical support to projects now being revived through restructuring Asset Reconstruction Companies (ARCs) are expected to

Kenya’s Odinga Slams Adani Deal U-Turn

Before the cancellation of the deal, Odinga was among the leaders who defended the Adani Group….reports Asian Lite News Kenya’s former Prime Minister Raila Odinga on Friday expressed disappointment over the cancellation

Stokes: Don’t Write India Off Yet

Stokes added that his side’s sole focus is limited to the India series and not thinking beyond. Ahead of the first Test of the five-match series, England captain Ben Stokes said that

Headingley Heat or Swing Trap

Jaffer pointed out that Joe Root is undoubtedly the main guy that India should be looking to dislodge, even as others, including skipper Ben Stokes, are in indifferent batting form…writes Niharika Raina

India Takes Yoga to the World

Ahead of June 21, yoga events are being held worldwide, promoting health, harmony, and well-being for the 11th IDY…reports Asian Lite News Marking a global celebration of India’s cultural heritage, the Indian
Go toTop

Don't Miss

India projected to become 3rd largest importer by 2050

The world’s centre of economic gravity has been shifting eastward

Over 800 Indian Peacekeepers receive UN medal

UNMISS Force Commander, Lieutenant General Shailesh Tinaikar, applauded the Indian