India News | Farm Acts Freed Farmers from Decades-old Bondage, Says Union Minister Piyush Goyal

New Delhi [India], October 3 (ANI): The new farm reform Acts have freed our farmers from decades-old bondage and will pave the way for fast growth of the agricultural sector, said Union Minister of Commerce and Industry Piyush Goyal at a press conference on Empowerment of Farmers here on Saturday.

"The reforms in the agricultural sector have freed our farmers from decades-old bondage regarding the sale of their produce. This will pave the way for the fast growth of the sector and will provide contractual protection to farmers against adverse price variations while also giving them the freedom to avail benefit of favourable market prices," the Union Minister said.

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While deeming the new Farm Acts as 'game-changers', Goyal added that the government had fixed the price at 1.5 times the production cost and the procurement rate had also gone up.

"The reforms are game-changing decisions which will improve the lives of farmers and double their income. The government has fixed the minimum support price (MSP) at 1.5 times the production cost. The MSP rate and procurement have gone up recently, even during the period of low inflation," he said.

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He said, "MSP was there yesterday, is there today, will be there tomorrow. Farmers have now been empowered with the freedom to sell their produce to the right person, at the right place, at the right time, at the right price."

Goyal said that the increased credit guaranteed to the National Agricultural Cooperative Marketing Federation of India (NAFED) by as much as 20 times had resulted in higher procurement and self-reliance.

"The government has consistently increased credit guarantee to NAFED, by as much as 20 times in the last 6 years, resulting in higher procurement from NAFED and self-reliance in items such as dal and pulses," he said.

Goyal, who is also the Union Minister of Railways, added that the Kisan Rail would provide farmers with a demand-based transport of farm produce in collaboration with the Department of Agriculture.

"The Kisan Rail will be a game-changer, providing demand-based yet frugal and permanent medium for transport of farm produce, benefiting farmers across the country. We are in discussion with the Agriculture Department to start refrigerated coaches for the transport of perishable commodities. Warehouses are being planned to be developed, to permanently solve the problem of wastage of farm produce," he added. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)