The IMF Gives Modi the Lie on Indian Farm Laws

The International Monetary Fund believes the farm bills passed by the Indian government are “a significant step forward for agricultural reforms,” Gerry Rice, Director of Communications at IMF, told a news conference in Washington on Jan. 14. “We believe the farm bills do have the potential to represent a significant step forward for agricultural reforms in India. … The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the surplus by reducing the role of middlemen, enhance efficiency and support rural growth. … However, it is crucial that the social safety net adequately protects those who might be adversely impacted during the transition to this new system.”