CURRENT AFFAIRS

Detailed explanation-1: -Tamil Nadu has become the first state in the country to enact a law on contract farming. President Ram Nath Kovind has given assent to the Agricultural Produce and Livestock Contract Farming and Services (Promotion and Facilitation) Act.

Detailed explanation-2: -The value of output per cropped area under contract farming was highest (Rs 91,000) in Andhra Pradesh (including Telangana), followed by Karnataka (Rs 68,000), Punjab (Rs 51,500), and it was the least in Haryana at Rs 41,000 per acre.

Detailed explanation-3: -It was the fifth state to do so after Punjab, Chhattisgarh and Rajasthan and Delhi. The West Bengal assembly became the sixth state on 28 January 2021. The Punjab assembly passed another resolution against the central farm laws in the beginning of March 2021.

Detailed explanation-4: -Initially, contract farming regulated under the Indian Contract Act, 1872. The Model APMC (Agricultural Produce Market Committee) Act, 2003 provides specific provisions for contract farming, like compulsory registration of contract farming sponsors and dispute settlement.