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Economic indicators much more encouraging now, farmers interests remain a priority, says Modi

In his first comments on the ongoing protests, PM Modi says his govt is committed to protecting farmers and assures them the new reforms will open access to markets and technology.

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New Delhi: Prime Minister Narendra Modi Saturday said India’s economic indicators are encouraging and the situation in December is much better as compared to the previous months.

Addressing an event organised by the Federation of Indian Chambers of Commerce & Industry (FICCI), Modi urged the industry to invest in untapped rural and semi urban areas.

“Economic indicators are much more encouraging,” he said.

The Indian economy’s contraction narrowed to 7.5 per cent in the July-September quarter from a contraction 23.9 per cent in the April-June quarter.

Many indicators like freight movement, petroleum consumption and manufacturing have seen an improvement in the recent months after the gradual unlocking.

He also said the country is confident of the private sector’s ability to not only fulfil domestic demand but also reinforce India’s global standing.

On the agriculture side, he pointed out how the recent reforms in the farm sector have opened up an opportunity for the private sector to invest.

Modi went on to add that the current government’s policies are conducive for setting up agro-based industries in rural areas.

“The farm sector will see more private investment in the coming months. The farmer will benefit from these reforms and the investments that will come in … the small farmer with a small holding will benefit,” he said.


Also read: Maoists, Leftists have infiltrated ‘so called’ farmer protests to scuttle reforms, says Goyal


‘Govt committed to protecting farmer interests’

Addressing the issue of the ongoing farmer protests, Modi said his government is committed to protecting farmer interests. His comment comes days after talks between the government and farmers virtually broke down with the unions rejecting the government’s offer.

“By policy and intent, the government is committed towards protecting farmer interests,” he said.

This is the Prime Minister’s first reaction after the most recent round of talks failed to break the stalemate with farmers who are demanding a complete repealing of three farm laws passed in September.

During his address, Modi repeatedly flagged how the new laws will help farmers get a better price for their produce as well as attract fresh investments into agriculture in segments such as cold chains.

“Today, the farmer has the choice of selling his produce in mandis as well as outside. Not only are the mandis being modernised, the farmer has been given a choice of selling his goods through an online platform,” Modi said. He also took a swipe at the regressive policies of his predecessors.


Also read: What Modi govt can offer in a new deal to restive farmers to end the stalemate


Farmers-govt stalemate continues

For two weeks now, farmers of Punjab and Haryana have been camped at Delhi’s borders asking for a repeal of the the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act , 2020, Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 and the Essential Commodities (Amendment) Act 2020.

While the first law allows farmers to sell their produce outside of the mandis, the second seeks to ease regulations around contract farming and the third is aimed at encouraging investments in storage infrastructure by removing limits on storage of cereals, pulses, potatoes and onion.

The government and the farmer unions have held several rounds of talks but without any breakthrough. The Modi government indicated its willingness to bring in some amendments to these laws, but farmers have remained firm on their demand for a complete repeal.

They have also threatened to intensify the agitation by disrupting train services and blocking toll plazas, which could cordon off the national capital entirely.

In his speech at FICCI, the Prime Minister talked about how through the farm laws, the government is removing all barriers faced by the farmers.

“Farmers will get access to more markets and access to technology,” he said.


Also read: 5 reasons why Modi govt is finding it difficult to tackle protesting farmers


 

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