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India Needs To Quickly Move Up Agricultural Value Chain To Ensure Broad-based Farmer Incomes

Capital Market 

India should quickly move up the agricultural value chain to ensure farmer income gets broad-based noted State Bank Of India or SBI's latest research update Ecowrap. The total number of farmers (allowing for overlap) who are currently benefitting from the new initiatives like e-NAM, organic farming is incrementally at 3.4 crore. If the 1.5 crore farmers benefitting from procurement are added, the total number of farmers benefitting is around 4.9 crore, out of an estimated universe of 14.6 crore farmers.

Government has passed 3-bills in agriculture sector, which aim to change the way agricultural produce is marketed, sold and stored across the country which were initially issued in the form of ordinances in June. The three bills aim to increase the availability of buyers for farmers' produce, by allowing them to trade freely without any license or stock limit, so that an increase in competition among them results in better prices for farmers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 13 2020. 13:38 IST