The International Monetary Fund (IMF) has backed the Indian government’s decision to roll out farm laws saying that they will enhance the rural growth. The world body has, however, given a word of caution that the social safety net needs to be strengthened for those who could be affected by the farm laws.
“We believe the farm bills 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 middlemen, enhance efficiency and support rural growth,” Gerry Rice, Director of Communications at the IMF said.
