A big announcement made by Indian Prime Minister Narendra Modi on Friday (today).
Narendra Modi’s government repealed the three controversial farm and agricultural laws. These laws were passed in September last year.
A big amount of farmers came out in protests to oppose the passed law.
Narendra Modi address the Indian nation in which he announced about revoking the passed laws.
“We (government) have decided to withdraw all three farms and agricultural laws,” said Modi.
Modi further mentioned in his address to the nation that the constitutional process will be completed next month to repeal all three farm laws.
Last year, the Indian government passed the farm laws in which the market was unregularized by the government.
This means any farmer can sell his reaps at any price in the market. This may seem a good step. But in reality, big companies’ monopoly would have crushed down the entire market resulting in a loss to small and individual farmers.
This law was termed controversial by many farmers as they came out on the streets in protest against the passed farm laws.
After a year, Narendra Modi’s government has finally decided to revoke all three passed laws. Farmers are happy about it and hope that this step will bring stability to the market.