The International Monetary Fund (IMF) stated in a latest update that recent farm bills in India do have the potential to represent a significant step forward for agricultural reforms in India. The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the surplus by reducing the role of middle men, enhance efficiency and support rural growth.
These bills can represent a significant step forward. However, it is crucial that the social safety net adequately protects those who might be adversely impacted during the transition to this new system. This may require further strengthening of the social safety net and insuring that the job market can accommodate those that may be impacted by the reforms.
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