Parliamentary Approval Accorded to Warehousing Development Bill

New Delhi, Aug 22 (UNI) Parliamentary approval was today accorded to a measure seeking to develop, maintain and store foodgrains in a scientific manner and help farmers get better prices for their produce with the Rajya Sabha passing the relevant bill.

The Warehousing (Development and Regulation Bill) 2007, as earlier passed by the Lok Sabha, was adopted unanimously by the Upper House after Minister of State for Agriculture Akhilesh Prasad Singh replied briefly to a short discussion on the legislative measure.

The move, Minister Singh said, would accord a fully negotiable and transferable status to the warehouse receipts thus affording the producer a benefit hitherto not available to him This will bring a marked improvement in the life of farmers and regulate warehouses, the Minister assured the Members.

Earlier, initiating the discussion, BJP member Lalit Kishore Chaturvedi demanded that the warehouse receipts be made negotiable to increase cash-flow into rural areas.

Eds: Here Please Pick up from Para Five of PAR 38, WAREHOUSING DEVELOPMENT-RS.

UNI