Question : Restructuring of FCI

(a) whether the Government is aware that the High Level Committee (HLC) on restructuring of the Food Corporation of India (FCI) identified the need to introduce a Negotiable Warehouse Receipt (NWR) System;
(b) whether the Government is aware that NWR system would attract private participants, reduce the cost of storage, and improve market economy as farmers would receive a high advance from banks against their produce valued at MSP and sell their crops at the best market prices;
(c) if so, whether the Government is likely to introduce a Negotiable Warehouse Receipt (NWR) System; and
(d) if so, the details thereof, if not, the reasons therefor?

MINISTER OF STATE FOR CONSUMER AFFAIRS, FOOD & PUBLIC DISTRIBUTION
(SHRI C. R. CHAUDHARY)
(a): Yes Madam
(b): Yes Madam
(c): Negotiable Warehouse Receipt (NWR) System has already been introduced on 25.10.2010 under the Warehousing (Development and Regulation) Act, 2007.
(d): Under the Warehousing (Development and Regulation) Act, 2007, the Government has constituted a Regulatory Authority, namely, Warehousing Development and Regulatory Authority (WDRA) on 26.10.2010 to regulate the NWR System. If any warehouse intends to issue NWR, it is mandatory to obtain certificate of registration from WDRA and the warehouses so registered are regulated by WDRA.
WDRA has also launched WDRA Portal on 26.09.2017 for online warehouse registration and issuance of electronic NWR.
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