Victory for farmers in India? The government promises to repeal the reform in the industry

by time news

India will repeal three laws that farmers have protested against since 2020, Prime Minister Narendra Modi announced today. He added that the government would begin a constitutional process to repeal the laws in parliament later this month, and called on protesters to return to their homes. India’s main opposition party, the National Indian Congress, described the announcement from today as “a historic victory for our farmers, people and democracy”. This was reported by CNBC

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The laws in question, approved by the Indian Parliament in September 2020, were supposed to undermine some of the laws that had protected Indian farmers for decades, abandoning them to unbridled free market mechanisms, and making competition dragon.

Agriculture is the main source of livelihood for about half of India’s 1.3 billion people, but accounts for only 15% of the country’s GDP. Like water.But agricultural reforms also tend to be politically sensitive by nature.

Indian farmers have been suffering for years from low grain prices, exorbitant costs, and severe droughts, despite generous government subsidies and various income tax exemptions. Many farmers have fallen into debt, which has led to an increase in the number of suicides in recent years.

Since 2020, government representatives have met several times with farmers to try and solve their problems, but negotiations have not led to a breakthrough. Thousands of farmers protested against the laws for more than a year, setting up temporary camps on the outskirts of Delhi. Farmers argued that the new laws would further lower grain prices and hurt their livelihoods.

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