Indian PM Modi says new farm laws to benefit farmers

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Addressing an event organised by the Federation of Indian Chambers of Commerce & Industry (FICCI), Modi urged the industry to invest in untapped rural and semi urban areas.

Talking about the Centre's Atma Nirbhar Bharat campaign, PM Modi said policies of past promoted inefficiency in many sectors and stopped new experiments. The event will see the participation of several ministers, bureaucrats, captains of industry, diplomats, worldwide experts, and other leading luminaries. A strong government, backed by massive mandate exudes that confidence and dedication. "All walls and obstacles are being removed now". Such a government doesn't want to hog the control and initiative.

She added that the recovery in the coming year can be accelerated by focusing on a 5-point agenda which includes focus on covid-19 vaccine roll out and revitalization of the healthcare sector, implementation of the National Infrastructure Pipeline, continued focus on digital transformation of the economy, greater push to manufacturing through PLI implementation and further fiscal stimulus especially for those sectors that have a long recovery period.

"A decisive government reduces hurdles for others".

While the first law allows farmers to sell their produce outside of the mandis, the second seeks to ease regulations around contract farming and the third is aimed at encouraging investments in storage infrastructure by removing limits on storage of cereals, pulses, potatoes and onion.

Industry bodies like FICCI must focus energies on achieving complementarities between agriculture, manufacture and services and act as a bridge them.

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He also called upon the India Inc.to strengthen the local value and supply chain and expand India's role in global supply chain.

Last month, the prime minister had said that agricultural reforms brought new opportunities to farmers as new rights were accorded to them. This, the world's largest Direct Benefit Transfer system, came in for praise when the country could transfer money in the crores of accounts through a click of button during the pandemic time. Besides, he also dwelled on the steps to help the farmers and the agri-sector at length.

He said, "Now farmers have the option of selling their produce in mandis as well as to outside parties".

He said the reforms are part of the overall approach of his government to lift barriers in economic activities erected by previous regimes. She mentioned that in the next decade, the healthcare sector would contribute to the growth of the country just like in the last decade we saw the contribution of the IT sector.

He reaffirmed his commitment to agriculture and said the reforms would take down the old barriers built around the vital sector and related sectors of the economy such as food processing and cold storage.

Modi went on to add that the current government's policies are conducive for setting up agro-based industries in rural areas.

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