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POLICY & REGULATIONS
Govt working on plan to link farmers, mkts, states Singh at convention
Tuesday, 21 March, 2017, 08 : 00 AM [IST]
Our Bureau, New Delhi
Addressing the fifth international convention on Changing Dynamics of Commodities Market in New Delhi, agriculture and farmers’ welfare minister Radha Mohan Singh said the government was working on a concrete plan to link the farmers with the markets. He added that that will help the farmers’ participation in the trading of food grains.
The minister stated, “Forward trading is an index of predictive pricing, and as a result, both the buyer and the seller can plan their futures trading. This will help farmers plan their crop planting and also do away with the role of middlemen.”
Singh added that the marketing of farm produce was carried out by the 6,746 state government-designated mandis, and that the government was leveraging the agricultural produce market committee (APMC) mandis and, at the same time, amending the marketing laws to facilitate the setting up of mandis by the private sector.
He said the electronic national agriculture market (e-NAM) offered an online commodities trading platform that would helps the farmers fetch optimum price for their farm produce, and the money would also be credited directly to his account. He added that a total of 277 mandis spread across 12 states had been linked to the e-NAM portal, and 585 mandis will board the platform by next year.
Singh added that India was not only self-sufficient in agricultural production, but also exported food grains and the agricultural growth had more than doubled from two per cent to 4.4 per cent. In the 2017-18 Budget, the funding provision for the rural, agricultural and allied sectors had gone up by 24 per cent to Rs 1,87,223 crore.
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