Modi’s farm reform reversal to deter investment in India’s agriculture

With an eye on a critical election in populous Uttar Pradesh state early next year, Modi agreed to rescind the laws in November

India’s repeal of agriculture laws aimed at deregulating produce markets will starve its vast farm sector of much-needed private investment and saddle the government with budget-sapping subsidies for years, economists said.

Late last year, Prime Minister Narendra Modi’s government introduced three laws meant to open up agriculture markets to companies and attract private investment, triggering India’s longest-running protest by farmers who said the reforms would allow corporations to exploit them.

With an eye on a critical election in populous Uttar Pradesh state early next year, Modi agreed to rescind the laws in November, hoping to smooth relations with the…read more

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