India announced agricultural market reforms and investment in facilities like cold storage warehouses to improve earnings for farmers who make up more than 60 per cent of the country's 1.3 billion people, AP reported.

Finance minister Nirmala Sitharaman said the steps are part of a $260 billion rescue package announced by Prime Minister Narendra Modi on Tuesday to offset the impact of a lockdown imposed in late March to fight the coronavirus pandemic.

She said the government will enact a law to remove restrictions on the flow of agricultural products across the country so that farmers can receive higher prices.