Lok Sabha passed the Essential Commodities (Amendment) Bill, 2020 which seeks to deregulate food items, including cereals, pulses and onion, a move aimed at transforming the farm sector and raising farmers’ income.
Objective of Essential Commodities (Amendment) Bill:
What will change with the Essential Commodities (Amendment) Bill, 2020?
Statement of the reason for passing the amendment bill:
As per the statement of the objects and reasons of the bill, India has become surplus in most of the agricultural commodities but farmers still have been unable to get the better prices due to the lack of investment in warehouses, cold storages, export, and processing as entrepreneurs get discouraged by the regulatory mechanisms in the Essential Commodities Act, 1955.
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