CHENNAI: Eminent farm scientist M S Swaminathan on Friday expressed happiness over the Centre announcing its decision to repeal the farm laws and said that the future of agriculture depends on the impact on production, procurement and prices.
"I am happy with the announcement today. I emphasize that C2+50 per cent is the core of the reports of the National Commission on Farmers", Swaminathan, the father of green revolution in the country, said.
The Comprehensive cost (cost C2) includes imputed costs of family labour and rent of owned land, as also the imputed interest on owned capital.
The National Commission on Farmers has recommended a 50 per cent margin over C2, which is also the demand of the farmers.
"The future of agriculture depends on the impact we can make on production, procurement and prices. These should be attended to concurrently", he said in a press release.
Prime Minister Narendra Modi on Friday while addressing the country, announced the government's decision to repeal the three farm laws, which were at the centre of protests by farmers for the last one year.