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PM Modi says Centre to repeal three farm laws

Capital Market 

Addressing the Nation this morning, Prime Minister Narendra Modi announced that the government has decided to repeal all three farm laws in the upcoming Winter Session of Parliament.

The three farm bills are: Farmers' Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020; Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020; and Essential Commodities (Amendment) Bill 2020.

These bills were passed by Parliament during the monsoon session last year.

All three agricultural reform laws have sparked almost a year of massive protests by farmers from Punjab, Haryana and Uttar Pradesh.

Modi said the three laws were in farmers' benefit but government could not convince a section of farmers despite best efforts. PM said the goal of three farm laws was to empower farmers, especially the small farmers.

He appealed to protesting farmers to call off their agitation and return to their homes.

During his address, Modi highlighted his government's measures to benefit small farmers. He said the agriculture budget has risen by five times and over Rs 1.25 lakh crore are being spent annually.

Modi said the government not only increased minimum support price (MSP) but also set up record procurement centers. He added that procurement by his government broke the record of past several decades.

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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: Fri, November 19 2021. 10:01 IST