Context:
NAFED will launch NAFEX portal (NAFEX.in), a digital portal for conducting agricultural-produce auctions transparently and efficiently. It will also introduce the DRISHTI inventory portal, an ERP platform and the NAFED-KALYAN scholarship for farmers’ children.
Explanation:
- NAFED stands for the National Agricultural Cooperative Marketing Federation of India Limited.
- Established in 1958, it is an apex organisation of agricultural marketing cooperatives.
- It is registered under the Multi-State Cooperative Societies Act, 2002 and functions under the Ministry of Cooperation.
- NAFED undertakes procurement, storage, processing, marketing and distribution of agricultural commodities.
- It procures pulses, oilseeds and copra under the Price Support Scheme (PSS) when market prices fall below the Minimum Support Price (MSP).
- PSS is a component of PM-AASHA, aimed at ensuring remunerative prices for farmers.
- NAFEX.in will digitise auctions, widen bidder participation and improve price discovery, transparency and efficiency.
- DRISHTI will manage inventories of pulses and oilseeds.
- Enterprise Resource Planning (ERP) integrates procurement, finance, storage and administrative functions.
- These initiatives support “Sahkar Se Samriddhi”, or prosperity through cooperation.
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