 states that the price of farming produce negotiated between the trader and the

farmer should be mentioned in the agreement.

 it is the responsibility of the buyer to provide agricultural equipment to the farmer.

 It provides for a three-level dispute settlement mechanism: the conciliation

board, Sub-Divisional Magistrate and Appellate Authority.
3–

 The amendments to the Essential Commodities Act, 1955 allows the central
government to regulate the supply of certain food items only under extraordinary
circumstances.
 the central government may regulate or prohibit the production, supply,
distribution, trade, and commerce of such essential commodities.

 The proposed bill provides for the central government to regulate the
supply of certain food items including cereals, pulses, potatoes, onions,
edible oilseeds, and oils, only under extraordinary circumstances.  
 The legislation requires that imposition of any stock limit on agricultural
produce must be based on price rise.
 The bill amends the Essential Commodities Act to provide that stock limits
for agricultural products can be imposed only when retail prices increase
sharply and exempts value chain participants and exporters from any stock
limit.  

Significance of the proposed laws:

 The three historic legislation will unlock the overly regulated agricultural
markets in the country.
 The laws will provide more choices for the farmer and lessen the marketing
costs for the farmers thus helping them to get better prices. It will also help
farmers of regions with surplus produce to get better prices and consumers
of regions with shortages, lower prices.
 The laws will enable the farmer to make use of modern technology and
better inputs to enhance their farm produce and its trade. It will reduce the
cost of marketing and improve the income of farmers.
 These new laws will encourage large companies, food processing firms,
exporters, etc, to invest in the farm sector and source good-quality farm
produce.
 The announced amendment to the Essential Commodities Act is expected to
help both farmers and consumers while bringing in price stability.
 The proposed changes will also create a competitive market
environment and prevents wastage of agri-produce that happens due to
lack of storage facilities.
