India withdraws agriculture-related market reforms

By Aabha Gandhi

India's prime minister Narendra Modi announced on 19 November 2021 that the government will withdraw all three agriculture-related market reforms introduced last year.

The laws, which were first introduced by the BJP government in September 2020, have resulted in widespread protests for nearly a year.

In his address to the nation, the prime minister said: "The objective of the three farm laws was that the farmers of the country, especially small farmers should be strengthened, they should get the right price for their produce and maximum options to sell the produce."

The government over the past year has had several rounds of discussions with farmers, but failed to reach a consensus.

The prime minister has announced the formation of a committee to promote zero budgeting based agriculture, to change crop pattern as per changing needs of the country and to make MSP more effective and transparent. The committee will have representatives of the central government, state governments, farmers, agricultural scientists, and agricultural economists.