Open ended procurement policy:
Wheat and rice are procured under this policy. Hence any farmer who wants to sell can approach the F.C.I and get M.S.P for his produce.
Closed ended procurement policy:
Here the farmers can only sell to the F.C.I if the price of his produce becomes less than the M.S.P.
For the growth and development of warehousing sector and improve credit flow to farm sector the Negotiable warehouse system was started by the Indian government. W.D.R.A became the statutory authority under this act to implement it.
The Negotiable warehouse receipts are issued to farmers in lieu of the stored produce in warehouses registered with W.D.R.A. These N.W.R can be given to banks to obtain loans for next agriculture cycle. The farmers can be protected from distress sale of produce and banks will have a safety net for loans as they are issued against the N.W.R. These N.W.R's can be used to access the stored produce which can be then sold in the market by banks to recover loans or by farmers when the market is favorable.
India is the largest consumer and second largest producer of sugar in the World. To ensure the farmers are protected from price shocks the MSP system for sugarcane was replaced by the FRP - Fair and Remunerative prices for sugarcane. Under this the farmer is assured of fair price for his stock as well as a profit from the sale. This system also rewards the farmers if there is a higher recovery of sugar from his stock.
The FRP is determined by the Cabinet committee on economic affairs after the consultations with Comission for agriculture costs and prices CACP, sugar industry and farmer associations.
This is operated by the Dept of Consumer Affairs. This fund is where the unclaimed central excise refunds go to. All agencies which have worked in the field of consumer welfare for 5 years can be eligible for financial grant under this.
This is a three tier system of quasi judicial forum which settles disputes of consumers. The district forum hears complaints upto Rs 20 lakh. The state commission hears appeals from district forums and cases where amount involved in Rs 20 lakh to Rs 1 crore. The national forum hears appeals from state commission and complaints where amount involved is Rs 1 crore and above.
Cases should be filed within 2 years of occurance and receipt of defective goods or service is compulsory.
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