IMF praised agriculture law but also expressed apprehension

The International Monetary Fund (IMF) has said that the three new agricultural laws passed by the Modi government are important steps for agricultural reform.

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However, the IMF has also said that in the course of this change, which are expected to be adversely affected, adequate steps should be taken to protect their interests. A spokesperson of global debtor IMF has said this. Gerry Rice is the Director of Communications at IMF.

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He said that the new agricultural law will reduce the role of middlemen and things will be transparent. "We believe that the Modi government's three new agricultural laws are very important for agricultural reform in India," Gerry Rice said during a press conference in Washington on Thursday.

Under the new law, farmers can sell their produce directly from buyers. This will reduce the role of middlemen and accelerate rural development. ”Gerry Rice also said that the changes that would be brought about by the introduction of the new system and those changes which are expected to have adverse effects, would be sufficient to protect their interests. Measures should be taken.

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Rice was asked questions about the opposition to the ongoing agricultural law in India. Rice said, "Obviously, the benefits of these reforms depend on how effectively they have been implemented." In such a situation, we should also pay attention to this matter.

The farmers' organization of three new agricultural laws of Modi government has been protesting on the borders of Delhi for the last 51 days. The farmers are worried that the minimum support price system will become irrelevant with the new agricultural law and they will have to sell their produce at little to no cost. However, the government is assuring that the MSP system will not end.

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