"Our efforts to develop the primary markets in the country have found recognition in the Economic Survey, 2014- 2015. We welcome the Government's decision of approving a Rs 200 crore Central Sector Scheme for promotion of national agricultural market," NCDEX said in a statement here.
Recognising the fragmented and distortion ridden agricultural market as the one of the most striking problems in agriculture growth, Department of Agriculture (DAC) has issued a comprehensive advisory to states to go beyond the provisions of Model Act and declare the entire state a single market with one license valid across the entire state.
The Unified Market Platform (UMP) in Karnataka has been lauded for integrating all the mandis in the state into a single licensing system, the release said.
"With states being encouraged to adopt a single market model, allowing participation from consumption centres across the country, the vision to create a unified agricultural market would soon become a reality.
We remain committed on bringing the efficiencies of the financial market to the physical markets, enabling even the smallest farmer to get access to a wider market and enjoy benefits of transparent price discovery," NCDEX MD & CEO Samir Shah said.
The initiative is rooted in the implementation of Mandi Modernisation program (MMP) by NCDEX and Karnataka government, which started in Gulbarga in 2011.