Essential Commodities Act: Farmers’ Income Will Grow!

Finance Minister Nirmala Sitharaman has announced a big plan for farmers and businessmen in an alliance for a relief package under self-reliant India. The Finance Minister has said that the Essential Commodities Act, which has been issued since 1955, will be changed. This will help farmers to increase their income. Nirmala Sitharaman said that under the Essential Commodities Act, oilseeds, additive oil, oilseeds, pulses, cereals, potatoes, and onions will now be deregulated.

Central law to be framed

The finance minister said that a central law will be framed to provide adequate alternatives to provide good prices to the produce of farmers. This will outline barrier-free inter-state trading and e-trading of agricultural produce. After this, the farmers will be able to sell their produce anywhere. Nirmala Sitharaman said the Essential Commodities Act was enacted in 1955. Now, farmers need to get better prices for their produce. This has to attract investment. At the same time, the agriculture sector has to be more competitive.
There will be no stock limit except in a particular situation

The finance minister said that agricultural products like edible oil, oilseeds, pulses, onions, and potatoes will be deregulated. Stock limits will be imposed only if necessary. Such situations include unavoidable situations such as national disaster, drought. No such stock limit will apply to processors or value chain participants. It will be subject to their potential.

The government can take steps in the event of national disaster and drought. The Finance Minister has announced reforms in agriculture marketing reforms. Earlier farmers had to sell only to APMC but now the compulsion is over. This can give a good price to the farmers.

These were also announced

The government will come out with a new law to create a facilitator legal framework for farmers. This does not disturb farmers, ensure risk-free income.

This step has been taken to ensure that farmers get better prices, not the difficulty in inter-state trade. These changes will help to double farmers’ income.

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