Piyush Goyal unveils 'e-Kisan Upaj Nidhi,' digitally transforming Indian agriculture for 'Viksit Bharat'

Key Highlights

• Piyush Goyal launches 'e-Kisan Upaj Nidhi' for agricultural transformation.
• Reduced security deposit charges at WDRA warehouses to 1%.
• Enhances market access through e-NAM.
• Promotes cooperative food grain storage for fair prices.
• A digital leap towards 'Viksit Bharat' by 2047.

Union Minister Piyush Goyal unveiled the 'e-Kisan Upaj Nidhi' program, a groundbreaking digital initiative aimed at revolutionizing India's agriculture sector. The launch ceremony held in New Delhi saw Minister Goyal emphasizing the crucial role of the farming community in building a prosperous nation and outlined the program's role in shaping a 'Viksit Bharat' by 2047.

Transformative Vision for Agriculture

Minister Goyal, responsible for Consumer Affairs, Food & Public Distribution, Commerce and Industry, and Textiles, underscored the program's significance in the government's continuous efforts to reshape the agricultural landscape. The 'e-Kisan Upaj Nidhi' initiative, powered by advanced technology, aims to streamline warehousing logistics for farmers, ensuring fair prices for their produce.

Reduced Security Deposit Charges

A major announcement during the launch was the reduction in security deposit charges at Warehousing Development and Regulatory Authority (WDRA) registered warehouses. This strategic move aims to incentivize small-scale farmers to use warehouse facilities, boosting their income. Under the revised policy, farmers now only need to pay a nominal 1% security deposit, down from the previous 3%.

Minister Goyal emphasized the role of the 'e-Kisan Upaj Nidhi' platform in simplifying the storage process. Farmers can now store their produce at any registered WDRA warehouse for up to six months, at a competitive interest rate of 7% per annum. This digital intervention addresses distress sales by providing farmers with viable post-harvest storage options.

Market Access for Farmers

Highlighting the synergy between 'e-Kisan Upaj Nidhi' and e-NAM (National Agriculture Market), Goyal emphasized their role in providing farmers access to an interconnected market. Beyond traditional avenues like selling produce to the government at Minimum Support Price (MSP), these platforms empower farmers to explore diverse market channels, enhancing income opportunities. Government procurement through MSPs has seen a 2.5-fold increase over the past decade.

Acknowledging the launch of the world's largest cooperative food grain storage scheme, Minister Goyal urged WDRA to propose the free registration of all godowns under the cooperative sector. This strategic intervention aims to strengthen storage infrastructure for farmers, providing access to WDRA facilities and ensuring fair prices for their harvest.

Also Read: Wheat Procurement at MSP Begins in UP, Ensuring Fair Rates for Farmers

CMV360 Says

By leveraging digital innovation and fostering cooperative partnerships, the 'e-Kisan Upaj Nidhi' initiative promises to assist in a new era of prosperity for the farming community. This transformative step aligns with India's vision of a 'Viksit Bharat' by 2047.