Yashwant Sinha was the finance minister who had to roll back the hike in urea prices.

Explanation:

Yashwant Sinha served as the finance minister of India from 1998 to 2002. During his tenure, he faced several challenges in managing the economy and implementing economic reforms. One of the significant decisions he had to make was regarding the hike in urea prices.

Urea is a crucial fertilizer used in agriculture, and its price has a direct impact on the agricultural sector. In the early 2000s, the government proposed an increase in urea prices to address the rising subsidy burden and improve the financial health of the fertilizer industry. The hike in urea prices was expected to reduce the fiscal deficit and promote efficiency in the sector.

However, the decision to increase urea prices faced strong opposition from various stakeholders, including farmers, political parties, and agricultural lobbies. They argued that higher urea prices would further burden the farmers who were already grappling with the challenges of low agricultural productivity and mounting debts.

As the finance minister, Yashwant Sinha had to carefully weigh the pros and cons of the situation. After considering the concerns raised by farmers and the impact it could have on the agricultural sector, he decided to roll back the hike in urea prices. This decision was aimed at providing relief to the farming community and ensuring the availability of affordable fertilizers.

The rollback of the urea price hike was a significant policy reversal and was seen as a move to address the concerns of the agriculture sector. It reflected the government's commitment to supporting farmers and promoting agricultural growth.

In conclusion, Yashwant Sinha, as the finance minister, had to roll back the hike in urea prices due to the opposition and concerns raised by farmers and various agricultural stakeholders. His decision was aimed at providing relief to the farming community and ensuring the availability of affordable fertilizers.