Banking

PM forms committee to promote zero budget farming

Prime Minister Narendra Modi has announced the formation of a committee to promote zero-budget farming, change crop patterns in response to changing national needs, and make MSP more effective and transparent. The committee will include representatives from the central government, state governments, farmers, agricultural scientists, and economists. 

Pointing out that many initiatives have been taken since 2014 to help farmers get the right price for their produce, Modi said, “We have decided to withdraw all three agricultural laws in the interest of the nation. We will complete the constitutional process to repeal these laws in the Parliament session that begins later this month.” 

Addressing the nation through video conference, the PM said, “We not only raised the MSP but also strengthened the rural market infrastructure. Procurement of produce by our government has broken the records of several decades. Four-pronged measures — seeds, insurance, market, and savings — were implemented to improve the condition of farmers.” 

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