Placeholder canvas

India’s Agriculture Laws Have Potential To Increase Farm Income: IMF’s Gita Gopinath

Date:

India’s recently-enacted 3 Farm laws have the potential to increase farmers’ income, said International Monetary Fund (IMF) Chief Economist Gita Gopinath.

While IMF’s Chief Economist agreed that agriculture is one of the areas where India needs holistic reforms and backed the recent farm laws, she added that there is a need to provide a social safety net to the vulnerable cultivators.

In a statement to PTI, she said- “These laws will help widen the market for farmers and allow them to sell to multiple outlets besides the Mandis without having to pay tax and this had the potential to raise, in our view, farmers’ incomes.”

Also Read : Unmask Deeper Conspiracy Behind 26th January Violence: NewsMobile Editor- In- Chief Saurabh Shukla

Transition Cost Comes With The Reforms.

She said, every time a reform is put in place, there are transition costs. One has to make sure and pay close attention that it’s not harming vulnerable farmers, to make sure that the social safety net is provided. Clearly there is a discussion right now and we’ll see what comes out if it,” she added.

Meanwhile, thousands of farmers in India, mostly from Punjab, Haryana and western Uttar Pradesh, have been protesting at several Delhi border points since November 28 last year, demanding a repeal of the farm laws and a legal guarantee on Minimum Support Price (MSP) for their crops.

Click here for Latest News updates and viral videos on our AI-powered smart news

For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...

FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud

New Delhi: Sam Bankman-Fried, the renowned founder of cryptocurrency...