• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

India will scrap three controversial farm laws, Prime Minister Narendra Modi says

by
November 19, 2021
in Breaking News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Related Posts

US debt interest payments are unsustainable and flash ‘huge warning signs’ as they take over federal spending, budget expert warns

Retired? You May Want Stocks, Not Bonds, to Power Your Portfolio

Investors pulled $19 billion from stocks in the last week, the highest outflow all year amid surging bond yields and Fed jitters

Watching the Real-Estate Bust From the Streets of San Francisco

A farmer cuts paddy crop in the Medak district, near Hyderabad, India on November 11, 2021.

Noah Seelam | AFP | Getty Images

India will scrap three laws that farmers have protested against since last year, Prime Minister Narendra Modi announced Friday.

“Today, I am here to tell you, and the whole country, that we have decided to take back, to repeal, the three agriculture laws,” Modi said, according to a CNBC translation of his remarks in Hindi.

He added that the government will begin the constitutional process in parliament later this month to repeal the laws.

The Indian parliament passed those laws in September 2020. The reforms would have chipped away at some of the rules that have protected India’s farmers for decades and would subject them to unfettered free-market mechanisms where competition would be high.

Agriculture is the primary source of livelihood for about half of India’s 1.3 billion population but accounts for only around 15% of GDP.

The government has met farmer representatives several times since last year but the negotiations have not led to any breakthroughs.

Thousands of farmers have protested the measures, arguing that the new laws would lower crop prices and hurt their earnings. In January, protesters clashed with police in New Delhi which resulted in the death of at least one demonstrator, Reuters reported.

India’s supreme court stayed the implementation of the farm laws this year.

This is breaking news. Please check back for updates.

Next Post

Hong Kong's Hang Seng slips as Alibaba shares drop 10% after disappointing earnings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

US debt interest payments are unsustainable and flash ‘huge warning signs’ as they take over federal spending, budget expert warns

by
September 24, 2023
0

Read more

US debt interest payments are unsustainable and flash ‘huge warning signs’ as they take over federal spending, budget expert warns

Retired? You May Want Stocks, Not Bonds, to Power Your Portfolio

Investors pulled $19 billion from stocks in the last week, the highest outflow all year amid surging bond yields and Fed jitters

Watching the Real-Estate Bust From the Streets of San Francisco

Evergrande Scraps $35 Billion Restructuring Plan as China’s Housing Crisis Intensifies

Treasury Yields Are Headed Even Higher. Stocks Won’t Like It.

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home

moneyprofitnews