The Warehousing Development and Regulatory Authority (WDRA) will become operational by March 2009. It has been set up to ensure the implementation of the new Warehousing (Development & Regulation) Act, 2007. Akhilesh Prasad Singh, Union minister of state for consumer affairs, food and public distribution, said: ?The ministry is looking for a speedy implementation of the new Act. The legislation was enacted in 2007 in order to safeguard the interests of the small and marginal farmers.? The minister was speaking at a seminar organised by the Federation of Indian Chambers of Commerce and Industry in Kolkata.
The regulatory authority would also help in facilitating the formal mechanism of the negotiable warehouse receipt (NWR) system across the country. NWRs, issued by warehouses registered under the Act, would help farmers avoid distress sale of produce by providing finance against the produce stored in registered warehouses.