NEW DELHI: Formalising its plan to unlock the growth potential of farm incomes by allowing unrestricted sale of produce, the Centre on Wednesday approved three major legislative reforms through ordinances intended to create “one India, one agriculture market” while also attracting private investments in a sector hamstrung by varying regulations.
The three legislative reforms, which have failed to see light of the day despite several attempts in the past, include laws on promoting barrier-free inter-state and intra-state trade in agriculture produce, empowering farmers to engage with processors, aggregators, wholesalers, large retailers and exporters through advance contracts on pre-agreed prices and an amendment to the Essential Commodities Act (ESA) which removes cereals, pulses, oilseeds, edible oils, onion and potatoes from list of essential commodities.
The amendment in the ESA will give freedom to hold, move, distribute and supply such farm commodities and attract private sector and foreign direct investment into agriculture sector.
“Long-pending agrarian reforms will enable transformation of the (agriculture) sector,” said Prime Minister Narendra