The committee chaired by NITI Aayog member Ramesh Chand was set up by the finance ministry in June last year. Photo: Hemant Mishra/MintNew Delhi: A well regulated, pan-India electronic spot market converging with a functional derivatives market will help farmers receive better and stable prices, an expert panel set up by the finance ministry has said. The committee chaired by NITI Aayog member Ramesh Chand was set up by the finance ministry in June last year. Absence of a central law to regulate a pan-India spot market, lack of adequate storage, infrastructure and assaying facilities are challenges waiting to be addressed, the report said. The panel observed that existing spot market platforms like the electronic National Agriculture Market (eNAM) need a robust dispute-resolution mechanism.

Source: Mint April 13, 2018 18:22 UTC