India Turns to Economic Overhaul as Growth Prospects Slide Amid Coronavirus

The unfortunate coronavirus pandemic caused India to endure an economic crisis. In fact, out of all of the world’s largest economies, India’s economic decline hit the hardest. Since numerous city jobs vanished amid the coronavirus pandemic, farming jobs are more important than ever. Thus India began to rely on it’s agricultural economy. However, the agricultural economy is under numerous regulations. The government worked to alter these restrictions. Suddenly, farmers were allowed to sell a majority of their produce to consumers instead of wholesale markets (what they were required to do in the past). Many of these wholesale markets have closed as a result. This led to protests from both farmers and wholesale market workers who now struggled even more to make money. In the long run this will benefit farmers by capturing at least some of the profits that have traditionally gone to those buying and reselling their crops, the question is can the farmers withstand this change long enough to receive profits.

https://www.wsj.com/articles/india-turns-to-economic-overhaul-as-growth-prospects-slide-amid-coronavirus-11602586802