Objectively, it is replacing a bad system.

But the proponents of the bill place too much faith in the market. India has never had truly free markets. There is a very legitimate concern that a few big corporations will monopolize the market and leave farmers with no real choice.

The concerns might have been muted if successive governments hadn't shown a willingness to bend and break (or heck, even set new rules) for a couple of major industrialists. As things stand, it is hard to trust the government.