New Delhi, Jun 3 : The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved ‘The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020’.
Addressing reporters after the meeting, Information and Broadcasting Minister Prakash Javadekar alongwith Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar, announced the Cabinet's decision. Indian Agriculture is characterized by fragmentation due to small holding sizes and has certain weaknesses such as weather dependence, production uncertainties and market unpredictability.
This makes agriculture risky and inefficient in respect of both input & output management. The ordinance will empower farmers for engaging with processors, wholesalers, aggregators, wholesalers, large retailers, exporters etc, on a level playing field without any fear of exploitation.
It will transfer the risk of market unpredictability from the farmer to the sponsor and also enable the farmer to access modern technology and better inputs. It will reduce the cost of marketing and improve income of farmers. (UNI)