The Farm Act- 2020 and the protests in India!

Why in News?

The farmer’s protest regarding three acts that pertain to agricultural marketing reforms in the parliament that seek to replace ordinances issued in june 2020.

These acts envisage to bring change in some of the key aspects of the farm economy — trade in agricultural commodities, price assurance, farm services including contracts, and stock limits for essential commodities.

The act sought to bring much needed reforms in the agricultural marketing system such as removing restrictions of private stock holding of agricultural produce or creating trading areas free of middlemen and take the market to the farmer.

However, farmers are apprehensive that the free market philosophy supported by these acts could undermine the Minimum Support Price (MSP) system and make farmers vulnerable to market forces.

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