National Agriculture Market: All you need to know about it

New Delhi, Apr 14: In view of importance of agricultural sector for the growth and development of the nation's economy, National Agriculture Market (NAM) has been incorporated by the Department of Agriculture & Cooperation.

The launching of e-platform for marketing of agriculture products is being done with the aim to provide more options to farmers to sell their produce and is part of implementation of the roadmap for doubling income of the farmers by 2022. Around 58 percent people in India depend upon agriculture for their livelihood.

In July last year, the Cabinet had approved setting up of an online national agriculture market with a budget of Rs 200 crore.

Here are some key facts you need to know about the National Agriculture Market

• The purpose behind NAM is the creation of a common national market for agricultural commodities through an e-platform network

• National agricultural products market platform will integrate 585 wholesale markets across India under an online platform.

• National Agriculture Market (NAM) is set to be launched on the occasion of 125 birth anniversary of BR Ambedkar.

• NAM will ensure farmers get competitive returns and consumers get stable prices and steady availability.

• It will be implemented in 3 phases covering 250, 200 and 135 mandis during 2015-16, 2016-17 and 2017-18 respectively.

• A budgetary provision of Rs.200 crores has been made to be spent over the next three years (2015-16 to 2017-18).