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Agriculture

Centre unveils model contract farming law

Updated : May 22, 2018 08:19 PM IST

The draft Agricultural Produce and Livestock Contract Farming and Services (promotion and facilitation) Act 2018 seeks to keep the contract farming/services contracts outside the ambit of respective Agricultural Produce Marketing Committee (APMC) Act of the states, which will help buyers save 5-10% on their transaction cost.
It also provides for setting up of a dispute settlement authority and imposition of penalties for breach of contract.
The reforms in the marketing and other areas are being taken, keeping this objective in mind.
Centre unveils model contract farming law
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