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LATEST NEWS UPDATES | India’s agrarian sector needs a budget boost -Yamini Aiyar and Mekhala Krishnamurthy

India’s agrarian sector needs a budget boost -Yamini Aiyar and Mekhala Krishnamurthy

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published Published on Dec 2, 2022   modified Modified on Dec 5, 2022

-Hindustan Times

Farm policymaking slowed down after the repeal of three laws in 2021. But the climate crisis, geopolitical instability and inflation have exacerbated the urgency for reforms

In November 2021, Prime Minister (PM) Narendra Modi repealed three contentious farm laws in a dramatic turnaround. The entire episode — from the passage of the laws, the protests that followed and the turnaround — had stalled national agriculture policymaking. Yet, as this column has repeatedly argued, the events of 2022 — geopolitical instability caused by the Russia-Ukraine war, the climate crisis, and inflation combined with continued slow growth in the rural economy — have exacerbated the urgency for agrarian reforms. This was reinforced last week by external affairs minister S Jaishankar when he pointed to the need to de-risk the global food economy through decentralised and diverse agricultural production and increased self-reliance at the national level. For India to respond, the key lies in crop diversification. Ironically, the tools at the heart of contestation during the farm laws debate — the minimum support price (MSP) system and government procurement — if properly rearchitected can help the country tackle the current problems.

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Hindustan Times, 2 December, 2022, https://www.hindustantimes.com/opinion/indias-agrarian-sector-needs-a-budget-boost-101669994464435.html


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