How has the liberal import policy of the government affected farmers in India
Government's liberal import policy cause of worry for farmers: Congress
- Increased competition: The liberal import policy has resulted in increased competition for Indian farmers. They now have to compete with imported agricultural products that can be cheaper due to lower production costs in other countries.
- Price fluctuations: The influx of imported agricultural products has led to significant price fluctuations in the market. As a result, farmers face uncertainty and struggle to fetch fair prices for their produce.
- Loss of market share: Domestic farmers lose their market share to imported products, as consumers might choose imported goods over locally produced ones due to lower prices or perceived quality.
- Reduced profitability: With lower prices and market share, farmers' profitability decreases. This can lead to financial hardships, debt burdens, and even farmer distress or suicides in extreme cases.
- Dependency on imports: The liberal import policy encourages dependency on imported agricultural products, which can have long-term consequences such as reduced self-sufficiency and a decline in the agricultural sector's contribution to the country's GDP.
- Impact on rural economy: The agricultural sector plays a crucial role in supporting the rural economy. The negative effects of the import policy can have a cascading impact on various stakeholders, leading to job losses, reduced income generation, and overall economic slowdown in rural areas.
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