India to approve repeal of controversial farm laws
India’s Union Cabinet will today approve the nullification of three agriculture reform laws.
Last Friday, Indian Prime Minister Narendra Modi announced that lawmakers will repeal a set of controversial agriculture laws. Modi’s move comes amidst year-long protests from farmer groups that have pressured the government to get rid of the country’s strict farming policies.
With the repeal, Modi’s Bharatiya Janata Party (BJP) aims to appease the discontented farmers and restrengthen the party’s decreasing popularity in the polls, as elections are approaching. In today’s meeting, the Union Cabinet will officially withdraw the three laws.
While the repeal of such laws could slightly impact the corporatization in India’s farming sector in the short- to medium-term, small- and medium-sized farmers will proliferate largely due to the lack of movement in other sectors. This will improve New Delhi’s COVID-19-struck economy. In this framework, the consumers will likely benefit from price stability as a result of the boost in crop production such as wheat and rice. Despite the relative relief amongst India’s peasant population, and the surplus in agricultural production, it is highly unlikely for BJP to sustain its public approval during the long-term, which could force the BJP to implement similar laws.
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