Government introduces three agricultural reform Bills in Lok Sabha

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News: Government of India has introduced three bills in Lok Sabha which are aimed at transformation of agriculture in the country and raising farmers income.

Facts:

Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance,2020:

  • Aim: 
    • Farming agreement: It provides for a national framework on farming agreements that protects and empowers farmers to engage with agri-business firms, processors, wholesalers, among others for farm services and sale of future farming produce.
    • Dispute Settlement: A farming agreement must also provide for a conciliation board as well as a conciliation process for settlement of disputes. 

Essential Commodities (Amendment) Bill, 2020:

  • Aim: 
    • Essential Commodities: It seeks to remove commodities like cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities. 
    • Significance: This will remove fear of private investors of excessive regulatory interference in their business operations and will also help in attracting private sector/foreign direct investment into the agriculture sector.

Farmers Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020:

  • Aim: 
    • Trade of farmers produce: It opens up agricultural marketing outside the notified Agricultural Produce Market Committee (APMC) for farmers and also removes barriers to inter-State trade.
    • Electronic Trading: It seeks to permit the electronic trading of farmers produced in the specified trade area.