FM: Integrate spot, derivative markets

Expert committee will be set up, more funds for <i>mandis</i> joining national electronic platform

Finance Minister Arun Jaitley has proposed integrating the commodity spot and derivatives markets, stating in his Budget speech that the commodities markets require further reforms for the benefit of farmers. 

An expert committee will be constituted to study and promote creation of an operational and legal framework to integrate the spot and derivatives markets for commodities trading. E-NAM, the electronic integration of all Agriculture Produce Market Committees (APMCs) on a single national electronic platform, will be an integral part of such a framework. E-NAM, however, is yet to replicate Karnataka’s success in other states.

The move is seen as a radical step