A Parliamentary Panel has asked the govt to implement in "letter and spirit" the Essential Commodities (Amendment) Act -- one of the laws against which farmers are protesting at Delhi borders for more than 100 days now.

This panel also has members from opposition parties including Congress, TMC and AAP. These parties have been demanding repeal of all three farm laws enacted by the Centre recently.

In its report presented in the Lok Sabha on March 19, the Standing Committee on Food chaired by TMC leader Sudip Bandyopadhyay recommended the government to "implement the Essential Commodities (Amendment) Act, 2020 in letter and spirit, and without let or hindrances so that the farmers and other stakeholders of the farming sector in this country receive the benefits intended under the said Act".

It said although the country has become surplus in most agri-commodities, farmers have been unable to get better prices due to lack of investment in cold storage, warehouses, processing and export as entrepreneurs get discouraged by the regulatory mechanisms in the Essential Commodities Act, 1955.

"This has resulted in farmers suffering huge losses when there are bumper harvests, especially of perishable commodities, much of which could have been reduced with adequate processing facilities," the panel said.

The panel also noted that even the High Powered Committee for Transformation of Indian Agriculture had suggested that there was a need to create an environment based on ease of doing business and for removing the fear of frequent statutory controls under the Essential Commodities Act in order to boost immediate investment in the agriculture sector, increase competition and enhance farmers' income.

India needs to grow at 11 pc in next fiscal: Niti Aayog VC

There is no proposal as of now to bring petrol, diesel, ATF, gas under GST: Finance Minister

Saudi reduces April crude for some Asian refiners, maintains India supply: Report