After rejecting the three farm laws, the Indian farm reforms deserve a second chance.
Last week, the three laws revoked in late 2021 were re-established with significant farmer support by a Supreme Court-appointed panel.
Furthermore, the benefits of an open market are yet to be experienced by the farmers.
A second chance for Indian farm reforms
A second chance for Indian farm reforms looks like giving farmers and protestors an adequate representation in redrafting laws.
Allowing them to grant market forces a more significant role in the sector.
Furthermore, the active participation of other political parties in public feedback and bill drafting could go a long way.
Additionally, fear among protestors of exploitation by corporate players causing anxiety requires particular attention.
However, the open markets are immune to capture as contented by critics.
What does the second chance for Indian farm reforms entail?
Redressal devices and fallback cushions act as assurance in addition to sound market openness.
Furthermore, the second chance entails direct access to courts for aggrieved farmers, clarity on rules that private entities don’t monopolize farming, and purchases with unfair deals.
Additionally, the said rules should explicitly be a part of upcoming India’s competition law.
As Indian agriculture is stuck with the legacy of a socialist framework, it has worsened Indian inequality.
Furthermore, the Indian farm reform requires private and capital funds to achieve freedom of modernization.