The world is watching with concern as farmers from different regions of India are engaged in a widespread farmer’s movement. Demanding fair compensation for the loss of their produce due to the bumper wheat harvest. The impact of the farmer protests on the overall economy in India is also being watched with apprehension. If this current outbreak of farmer protest goes beyond the state level. It has captured large areas of land and farmer’s huts like Kolkata and Darjeeling. It would completely change the dynamics of the economy of India, perhaps bringing it to a complete standstill. However, this would be a matter of chance at this point in time and the impact on the market. The interest of Indian people in buying the products of Indian companies can be minimal. Only if the government decides to use its power to reign in the farmer protest.
There have been many instances of farmer strikes over the years in India. The reasons for the farmer’s action vary from lack of quality seeds, low return of yields, unpaid salaries to the above. But till now no one has taken note of the fact. The main reason for farmer’s agitation is land and not money. The protest is against three farm acts that were passed by the Parliament of India in September 2020. Farmer unions and their representatives have demanded that the laws be repealed and will not accept anything short of it. However, this has been rectified by the introduction of the Agricultural Bonds. The Government has also introduced the ‘grain fund’ scheme to compensate for the lost revenues due to farmer protest and boycotts of particular grains like rice and wheat.
With the continuous farmers’ protest, people across the country keep wondering what exactly is the reason for the farmer’s strike. There were rumors that the new crops that are due to be planted in the next few months. It will not be up to the standard or yield in the past few years. Also, the prices of staple commodities like rice and wheat have been going down in recent years. Due to global price inflation and some analysts say that the price of these commodities will continue to drop. So, all this combined with the increasing inflation is creating a very hard situation for the farmer and his family. The Government is aware of all these issues and is trying its level best to pacify the farmer’s anger.