New Delhi, March 4 (IANS) Union Consumer Affairs, Food & Public Distribution Minister Piyush Goyal announced the launch of ‘e-Kisan Upaj Nidhi’ to enhance farmers’ income through reduced security deposit charges at WDRA registered warehouses. The initiative aims to ease warehousing logistics for farmers and prevent distress sales.
Goyal emphasized the significance of the agriculture sector in leading India towards becoming ‘Viksit Bharat’ by 2047. He thanked farmers for securing millions of lives and highlighted the role of technology in providing fair prices for their produce. The reduction in security deposit charges from 3% to 1% aims to encourage more farmers, especially small farmers, to utilize warehouses.
The minister stressed the importance of well-monitored warehouses under WDRA to protect farm produce and ensure farmers’ welfare. He called for mandatory registration of warehouses used by the Food Corporation of India (FCI) and preparation of a roadmap for state warehouses to be infrastructure-ready. Goyal also mentioned the target of registering 1 lakh warehouses on the ‘e-Kisan Upaj Nidhi’ platform.
‘e-Kisan Upaj Nidhi’ will allow farmers to store their produce at registered WDRA warehouses for 6 months at 7% interest per annum. Goyal highlighted the benefits of utilizing technology like e-NAM for interconnected markets, which go beyond selling produce at Minimum Support Price (MSP). The minister noted a 2.5 times increase in government procurement through MSPs in the last decade.
In a bid to boost the cooperative sector, Goyal urged the WDRA to propose free registration of all warehouses under this sector. This move is expected to further incentivize farmers to stock their produce in WDRA facilities, ensuring fair prices for their harvest. The launch of the world’s largest cooperative food grain storage scheme underscores the government’s commitment to supporting farmers and agriculture.
The ‘e-Kisan Upaj Nidhi’ initiative is set to revolutionize warehousing logistics for farmers, offering a simplified digital process and reduced security deposit charges. With a focus on enhancing farmers’ income and preventing distress sales, this initiative aligns with the government’s vision of ensuring prosperity and growth in the agriculture sector.
