SunstarTV Bureau: Believing on farm bills potential, a spoke person from International Monetary Fund (IMF) said that the farm bills passed by the Indian government have the ability to represent a significant step forward for agricultural reforms.
According to IMF’s director of Communication, Gerry Rice, “A need to strengthen the social safety net for those who might be adversely affected by the transition to the new system. We believe the farm bills do have the potential to represent a significant step forward for agricultural reforms in India.”
He further added, “The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the surplus by reducing the role of middlemen, enhance efficiency and support rural growth.”
This can be done by ensuring that the job market accommodates those that are impacted by the reforms, he said.
“And of course, the growth benefits of these reforms will depend, critically, on the effectiveness and the timing of their implementation, so need to pay attention to those issues as well with the reform,” Rice said.
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