Coronavirus – Economic Issues

Economic stimulus package for AgriculturePriority 1

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Atmanirbhar Bharat Abhiyan

Mains level : Economic stimulus for Agri sector


FM has announced plans to enact a central law to permit barrier-free inter-State trade of farm commodities and ensure a legal framework to facilitate contract farming under the third tranche of the Atmanirbhar Bharat Abhiyan economic stimulus package.

Try this question:

‘Doubling Farmer’s Income’ and ‘USD 5 trillion economy’  seems more like slogans today in wake of COVID pandemic. Comment on the statement with keeping in view the Atmanirbhar Bharat Abhiyan of the government.

Details of the package

  • The third tranche included plans to invest ₹1.5 lakh crore to build farm-gate infrastructure and support logistics needs for fishworkers, livestock farmers, vegetable growers, beekeepers and related activities.
  • The Centre will deregulate the sale of six types of agricultural produce, including cereals, edible oils, oilseeds, pulses, onions and potatoes, by amending the Essential Commodities Act, 1955.
  • Stock limits will not be imposed on these commodities except in case of national calamity or famine or an extraordinary surge in prices.
  • The Centre is considering introducing a law on contract farming under the Contract Act of 1872 to enable farmers to directly engage with processors, aggregators, large retailers and exporters in a fair and transparent manner.
  • It would allow private players to invest in inputs and technology in the agricultural sector.

Must read:

[pib] Atmanirbhar Bharat Abhiyan (Self-reliant India Mission)

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