. What is/are the advantage/advantages of implementing the 'National Agriculture Market' scheme?
It is a pan-India electronic trading portal for agricultural commodities.
It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither1 nor 2
Answers
Answer:
2 only
Explanation:
Advantages of NAM
The benefits of NAM are given below.
Farmers get many options to sell their produce and competitive returns.
NAM provides greater access for local traders to the national market for secondary trading.
NAM enables direct participation in the local mandi trade for bulk buyers, processors, and exporters to reduce intermediation cost.
NAM benefits mandis in the reduction of book and reporting system that is automatically generated.
It provides better monitoring and regulation of traders and commission agents that are transparent eliminating the scope of intentional/ unintentional manipulation of tendering/ auctioning process.
NAM decreases the workforce that is required for tendering/ auctioning process that happens throughout the system.
NAM analysis and forecasts the arrivals and prices and the availability of the activities of each APMC on the website directly.