The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 :
New Agricultural Policy 2020 – With an aim to transform the agriculture sector, The new bill seeks to provide a national agricultural agreement system that protects and empowers farmers to interact equally and transparently with agribusiness companies, processors, wholesalers, exporters, or major retailers in the field of agricultural services and sell future agricultural produce at mutually agreed remunerative price structures.
This law would shift the risk of market unpredictability from the farmer to the sponsor and allow the farmer to access new technologies and better inputs. It will reduce marketing costs and increase farmers’ earnings. Farmers can participate in direct marketing so that the intermediaries are eliminated, resulting in maximum price realization. Through this bill, farmers have been given adequate protection, and with clear timelines for redress, and efficient dispute resolution process has been established.