Question

Which of the following is/are correct about the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED)?

a) It was established on 2 October 1968.

b) It is registered under the Multi-state Cooperative Society act.

c) It act’s as an agent of any Government agency or cooperative institution, for the purchase, sale, storage, and distribution of agricultural, horticultural, forest produce.

1. a and b
2. b and c
3. a and c 
4. a ,b and c

Answer 1

Correct Answer - Option 2 : b and c

The correct answer is b and c.

• NAFED :
  • It was established on the auspicious day of Gandhi Jayanti on 2nd October 1958. Hence, Statement  A is not correct.
  • It is registered under the Multi-State Co-operative Societies Act. Hence, Statement b is correct.
  • It was set up with the objective to promote Co-operative marketing of agricultural produce to benefit the farmers.
  • Farmers are the main members of NAFED, who have the authority to say in the form of members of the general body in the working of NAFED.

• Objective:
  • The NAFED shall be to organize, promote and develop marketing, processing, and storage of agricultural, horticultural, and forest produces, distribution of agricultural machinery, implements, and other inputs undertake inter-state, import and export trade, wholesale or retail. 
  • It should act and assist for technical advice in agricultural, production for the promotion and the working of its members, partners, associates, and cooperative marketing, processing, and supply societies in India.

• The NAFED may undertake one or more of the following activities:
  • To facilitate, coordinate, and promote the marketing and trading activities of the cooperative institutions, partners, and associates in agricultural, other commodities, articles, and goods.
  • To undertake or promote on its own or on behalf of its member institutions or the Government or Government Organizations, Inter-State and international trade and commerce and undertake, wherever necessary, sale, purchase, import, export, and distribution of agricultural commodities, horticultural and forest produce, other articles and goods from various sources for pursuing its business activities and to act as the agency for canalization of export and import and interstate trade of agricultural and other commodities or articles under any scheme formulated by the Government of India or other Government agencies and to facilitate these activities, wherever necessary, to open branches/sub-offices and appoint agents at any place within the country or abroad.
    • Canalized goods are items that may only be imported using specific procedures or methods of transport.
  • To undertake purchase, sale, and supply of agricultural, marketing, and processing requisites, such as manure, seeds, fertilizer, agricultural implements, and machinery, packing machinery, construction requisites, processing machinery for agricultural commodities, forest produce, dairy, wool, and other animal products.
  • To act as a warehouseman under the Warehousing Act and own and construct its own godowns and cold storages.
  • To act as agent of any Government agency or cooperative institution, for the purchase, sale, storage, and distribution of agricultural, horticultural, forest and animal husbandry produce, wool, agricultural requisites, and other consumer goods.
  • To act as an insurance agent and to undertake all such work which is incidental to the same.
  • To organize consultancy work in various fields for the benefit of the cooperative institutions in general and for its members in particular.
  • To undertake the manufacture of agricultural, machinery and implements, processing, packing, etc. and other production requisites and consumer articles by setting up manufacturing units either directly or in collaboration with or as a joint venture with any other agency, including import and distribution of spare parts and components to up-keep of the machinery/ implements.
  • To set up storage units for storing various commodities and goods, by itself or in collaboration with any other agency in India or abroad.
  • To maintain transport units of its own or in collaboration with any other organization in India or abroad for movements of goods on land, sea, air and operate freight station, container depot and undertake other incidental activities.
  • To collaborate with any international agency or a foreign body for the development of cooperative marketing, processing, and other activities for mutual advantage in India or abroad.
  • To undertake marketing research and dissemination of market intelligence.
  • To subscribe to the share capital and undertake business collaboration with cooperative institutions, public, joint, and private sector enterprises, if and when considered necessary for fulfilling the objectives of NAFED.