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LATEST NEWS UPDATES | Farm bills: First principles and the political economy of agricultural market regulation -Shoumitro Chatterjee

Farm bills: First principles and the political economy of agricultural market regulation -Shoumitro Chatterjee

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published Published on Oct 16, 2020   modified Modified on Oct 21, 2020

-IdeasforIndia.in

Wrapping up the Symposium on farm bills, Mekhala Krishnamurthy and Shoumitro Chatterjee contend that regulatory reforms are an important but limited part of what must be both a more comprehensive and contextual approach to policy design and implementation. Moreover, when it comes to markets, it is crucial to think through what market regulation can and cannot do and to understand the role that mandis play in India’s agricultural marketing system.

Over the last four months, in the midst of the ongoing Covid-19 pandemic, the past, present and future of Indian agriculture has been in the national spotlight. The source of the controversy is the introduction of three farm ordinances (then bills and now – having received Presidential assent after a short, stormy and abrupt passage through Parliament – Acts). Read together, these new farm laws represent a set of concerted actions intended to alter the manner and degree of State regulation over the exchange, storage, movement, and taxation of agricultural produce in India. This also marks the first time in Indian legislative history that central law has been brought to bear on the regulation of the critical ‘first transaction’ between the farmer and the primary buyer of their produce. The focus has therefore turned to the country’s vast and varied agricultural markets and to the vital, complex, and contested task of regulating them.

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IdeasforIndia.in, 16 October, 2020, https://www.ideasforindia.in/topics/agriculture/farm-bills-first-principles-and-the-political-economy-of-agricultural-market-regulation.html


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