Context:
Recently, the union Minister for Consumer Affairs, Food & Public Distribution, Commerce and Industry and Textiles launched ‘e-Kisan Upaj Nidhi’ (Digital Gateway) in New Delhi.
Relevance:
GS II: Government Policies and Interventions
Dimensions of the Article:
- e-Kisan Upaj Nidhi Platform: Facilitating Farmers’ Post-Harvest Storage
- About Warehousing Development and Regulatory Authority (WDRA):
e-Kisan Upaj Nidhi Platform: Facilitating Farmers’ Post-Harvest Storage
- Digital Gateway: e-Kisan Upaj Nidhi is a digital platform operated by the Warehousing Development and Regulatory Authority (WDRA).
- Objective: It simplifies the process for farmers to store their produce at any registered WDRA warehouse for up to 6 months, offering an attractive 7% interest per annum.
Key Features:
- Digital Process:
- The platform leverages digital technology for a streamlined and simplified process.
- Aims to alleviate distress sales by providing farmers with viable post-harvest storage options.
- Interest Rate:
- Farmers opting for storage through this platform benefit from a competitive 7% interest per annum.
About Warehousing Development and Regulatory Authority (WDRA):
- WDRA was established under the Warehousing (Development and Regulation) Act, 2007.
- Consists of one Chairperson and two full-time Members.
Mission:
- Establishment of a negotiable warehouse receipt system in the country.
- Promotion of warehouse receipts as a primary tool of trade and facilitation of finance against it.
- Improvement of the quality of lending portfolios for banks.
- Enhancement of interest in lending against goods stored in warehouses.
Functions:
- Issuance of negotiable warehouse receipts to help farmers secure loans from banks.
- Mitigation of distress sales during peak marketing seasons.
- Prevention of post-harvest storage losses.
Commodity Coverage:
- WDRA covers 136 agricultural commodities for issuing negotiable warehouse receipts, including cereals, pulses, oilseeds, spices, rubber, tobacco, and coffee.
- Additionally, 24 horticultural commodities are covered for cold storage, along with 9 non-agricultural commodities.
