Indian Economy

Written by : Srijan Das Photo : shutterstock.com The central government had released model farming acts in 2017. The Standing Committee on Agriculture (2018-19), however, noted that a number of the reforms suggested in the model acts had not been implemented by the states. In particular, the Committee found that the laws that regulated Indian agricultural markets were not being implemented fairly and honestly or serving their purpose. Centralization was thought to be reducing competition and (accordingly) participation, with undue commissions, market fees, and monopoly of associations damaging the agricultural sector. A committee consisting of seven chief ministers was set…

Written by : Srijan Das Photo : shutterstock.com While India's GDP contracts 23.9% in April-June quarter due to lockdown and linked to negative effects from some of the economic policies adopted in past years, the manufacturing sector recorded a drop of 39.3 percent from a growth of 3 percent last year and the mining sector shrank by 23.3 percent from a growth of 4.7 percent last year, whereas the agriculture sector stood out as a beacon of hope growing 3.4 percent in the first quarter of 2020-21 from 3 percent last year. Initiating a process of introspection With each passing…