Big cost to country, small gain for Modi: Decoding the political economy of repealing farm laws

Clipped from: https://timesofindia.indiatimes.com/blogs/toi-edit-page/big-cost-to-country-small-gain-for-modi-rich-kisans-win-decoding-the-political-economy-of-repealing-farm-laws/

The Prime Minister’s announcement on repealing all three farm reform laws is a stunning defeat for good politics and common sense – and a setback to farming itself. In a country where 85% of farmers are small or marginal, what we needed was breathing time to allow farms to consolidate and give the rest of the economy time to create the jobs needed to absorb excess farm labour. Now, the process will be reversed as more public resources will be spent on retaining more people on the farm.

Narendra Modi does not usually back off when confronted with difficult political challenges, but he has done so this time. Whether this will reduce him to a lameduck for the remaining half of his second term or not remains to be seen, but there is little doubt that his political capital has shrunk.

Read full opinion on TOI+

Disclaimer

Views expressed above are the author’s own.

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