While @HarsimratBadal_ has politicised the issue,#Punjab,an @INCIndia ruled State,is one of the few States that already allows #ContractFarming,in select commodities,to farmers,via separate State legislation..So opposition to #FarmBills by Congressis&Akalis,is not about Farmers!
Are #Akalis opposed to #FarmBills of @narendramodi govt,as these Bills once they become Acts,will strip Mandi Traders,wily Commission Agents,Food Processors,Exporters&Marketing Committees of #APMCs,of the brazen power they wield,forcing farmers to sell their produce,dirt cheap?😑
Farm legislations will allow @narendramodi govt to invoke #EssentialCommoditiesAct only if retail prices rise 50% for non-perishables&100% for perishables, over average retail prices in preceding 12months or last five years--diluting EC Act of 1955,is last nail for Nehruvianism!
Earlier,due to EC Act,there were Stock limits&restrictions on quantity that #FoodTraders could buy from #Farmers;Due to lack of storage,farmers would get rid of surplus at distress prices--Now,with no stock limits,both traders& farmers,will gain,without fear of hoarding surplus💪
Why are "Farmers" protesting?
Let us get this clear--it is not farmers but wealthy owners of existing Mandis,with political connect,who are protesting,as #Mandis set up under #APMC Acts,have been excluded from definition of #TradeArea,under new legislation by @narendramodi govt
Why did @narendramodi gov exclude existing Mandis from definition of trade area?
It was done to give #Farmers a choice-they can sell either in Mandi or new #TradeArea,outside current #Mandi
Mandi owners don't want competition--@narendramodi has broken their monopoly;that simple
#Rupee has fallen far lower Vs #Dollar,comparatively👇
Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro
Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪
So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees
Explained👇
When countries import&export goods&services,they have to make payments in foreign currency
Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations
This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%
Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either
In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count
Why then are major Currencies falling against Dollar?
Industrial growth estimated at 11.8% &Services at 8.2% in FY22 show how Economy under @narendramodi is ready to fire on all cylinders
Most Growth Parameters are back to pre-Pandemic levels,as India heads into #UnionBudget2022
#GDP&GVA growth 1.3%&1.9% over Pre #COVID19 levels
#EconomicSurvey shows,be it Operationalisation of Airports or Spread of Bank Branches, @narendramodi govt has truly transformed India,with financial inclusion getting top priority
India set to be Fastest growing for next 2yrs as per IMF,thx to bold reforms by #PMModi #Modinomics