New farm laws aimed to continue process of agri reforms: Rajnath
NEW DELHI: Defence minister Rajnath Singh on Sunday told farmers that the new farm laws introduced by the government are aimed to continue the process of agricultural reforms spearheaded initially by the Vajpayee government.
The defence minister was addressing a virtual event to celebrate the completion of three years of Jai Ram Thakur government in Himachal Pradesh. During his speech, Rajnath Singh said that when he was the agriculture minister in 2003 he had faced challenges in lowering input costs in farming. He said at that time banks charged 14-18% interest on farm loans.
“It surprised me that interest charged on motor vehicle loans was close to 8% but for a productive sector like farming banks were levying 14-18% interest rates on agricultural loans,” Singh said.
“I requested finance minister Jaswant Singh to reduce interest rates for farmers. He was reluctant initially, but after prime minister Vajpayee’s nudge, he agreed to reduce interest rates.
PM Modi’s new laws are aimed at continuing the process of reforms which was introduced by Atal Bihari Vajpayee,” Singh further added.
The defence minister also hit out at Congress and other opposing parties during his speech saying that the laws have scared elements who previously took advantage of the shortcomings in the agricultural sector.
He also said that the Minimum Support Price system (MSP) of procurement will continue.
“It’s unfortunate that those who don’t even know about farming, are misleading innocent farmers. This government never intended to stop MSP, neither it will in future. Mandis will also be maintained. No ‘Mai Ka Lal’ (mother’s son) can take away land from farmers,” Singh said.