: ‘MSP will stay, farmers will get investment, technology’ #FinanceIndia #StockMarketNEWS #Business New Delhi: The Union government on Monday introduced three bill in Lok Sabha on farm sector with

@StockMarketNEWS Wed 16 Sep, 2020

Posted in: #Business #FinanceIndia #StockMarketNEWS

‘MSP will stay, farmers will get investment, technology’ #FinanceIndia #StockMarketNEWS #Business
New Delhi: The Union government on Monday introduced three bill in Lok Sabha on farm sector with Union Minister Narendra Singh Tomar asserting that they will help farmers get a remunerative price for their produce as well as private investments and technology.

Agriculture Minister Narendra Singh Tomar introduced The Farmers’ Produce Trade And Commerce (Promotion And Facilitation) Bill, The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill and The Essential Commodities (Amendment) Bill, which will replaces ordinances promulgated by the government earlier.

He said the proposed laws will enable barrier-free trade in agricultural produce, and also empower farmers to engage with investors of their choice.

The minister said that these steps are only the latest in a series of measures taken by the government as part of its continuous commitment to championing the cause of welfare of the farmers of India.

Tomar said that almost 86 per cent of farmers have agricultural land of less than two hectares and they are often unable to benefit from minimum support price (MSPs).

He, however, assured the House that the MSP will stay.

The Congress and other parties have been opposing the legislations, alleging it will undermine the safety net provided to the farmers by the MSP system and will lead to their exploitation by big companies.

Tomar said the bill will help the farmers as they are unable to invest much in their farm and do not attract investments from others.

He also rejected the criticism that it was beyond the remit of the union government to legislate on these issues, saying opposition members should trust the Centre.

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