రైతుకు లాభం దేవుడెరుగు, ఆహార ధరలు పెరిగే ప్రమాదం?||Agri-Market Reforms, Food Prices Rise Likely||
The third tranche announced on Friday focused on long-term issues in the agricultural sector, by promising financing to strengthen infrastructure, build better logistics and ramp up storage capacities, as well as proposing three major governance and administrative reforms that have been in the pipeline for many years.
Taking the opportunity of a crisis situation, the Finance Minister has pushed through reforms that the Centre has been trying to implement for years.
For instance, the Essential Commodities Act, 1955 came into being at a time of food scarcity and famine; last year’s Economic Survey called it an “anachronistic legislation”. It allows the government to control price rise and inflation by imposing stock limits and movement restrictions on commodities, giving States the power to regulate dealer licensing, confiscate stock and even jail traders who fail to comply with restrictions. Earlier this year, it was used to control soaring onion prices.
Traders have long complained of harassment under the Act on the suspicion of hoarding, black marketing and speculation, while food processors and exporters have also pointed out that they may need to stock commodities for longer periods of time. The Act has disincentivised construction of storage capacity and hindered farm exports.
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రైతుకు లాభం దేవుడెరుగు, ఆహార ధరలు పెరిగే ప్రమాదం?||Agri-Market Reforms, Food Prices Rise Likely|| The third tranche announced on Friday focused on long-term issues in the agricultural sector, by promising financing to strengthen infrastructure, build better logistics and ramp up storage capacities, as well as proposing three major governance and administrative reforms that have been in the pipeline for many years. Taking the opportunity of a crisis situation, the Finance Minister has pushed through reforms that the Centre has been trying to implement for years. For instance, the Essential Commodities Act, 1955 came into being at a time of food scarcity and famine; last year’s Economic Survey called it an “anachronistic legislation”. It allows the government to control price rise and inflation by imposing stock limits and movement restrictions on commodities, giving States the power to regulate dealer licensing, confiscate stock and even jail traders who fail to comply with restrictions. Earlier this year, it was used to control soaring onion prices. Traders have long complained of harassment under the Act on the suspicion of hoarding, black marketing and speculation, while food processors and exporters have also pointed out that they may need to stock commodities for longer periods of time. The Act has disincentivised construction of storage capacity and hindered farm exports.