Agri stimulus measures to help farmers fetch better prices: Niti VC

Niti Aayog Vice-Chairman Rajiv Kumar on Friday said the host of measures announced by the finance minister, like the amendment of the Essential Commodities Act, will enable better price realization for farmers.

In the third tranche of the COVID-19 economic package, the government on Friday announced a slew of measures for the agriculture sector, including a Rs 1.63 lakh crore outlay, and amendment of the stringent Essential Commodities Act to remove cereals, edible oil, oilseeds, pulses, onion and potato from its purview.

Also, a new law will be framed to give farmers the option to choose the market where they want to sell their produce by removing inter-state trade barriers and providing e-trading of agriculture produce.

"The host of measures announced by FM @nsitharaman today like the amendment of the Essential Commodities Act will enable better price realization for #farmers, provide more autonomy & help them in selling their produce at an attractive price," Kumar tweeted. Niti Aayog CEO Amitabh Kant termed the measures a new era for Indian farmers and the agriculture sector.

"Govt drives key structural reforms which were held up for decades. Giving farmers the freedom to sell his produce, amendment of Essential Commodities Act & deregulating cereals, edible oils, potato & onion are big ticket changes," Kant said.

The Essential Commodities Act empowers the government to regulate prices as well as stocks of commodities.