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A Day When Everything Went Wrong Essay Sample

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A Day When Everything Went Wrong Essay Sample

National Agricultural Cooperative Marketing Federation of India Ltd.(NAFED) was established on the auspicious day of Gandhi Jayanti on 2nd October 1958. Nafed is registered under the Multi State Co-operative Societies Act. Nafed was setup with the object to promote Co-operative marketing of Agricultural Produce to benefit the farmers. Agricultural 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.

The objects of the NAFED shall be to organise, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce, distribution of agricultural machinery, implements and other inputs, undertake inter-State, import and export trade, wholesale or retail as the case may be and to act and assist for technical advice in agricultural production for the promotion and the working of its members and cooperative marketing, processing and supply societies in India. In furtherance of these objectives, the NAFED may undertake one or more of the following activities:

1. to facilitate, coordinate and promote the marketing and trading activities of the cooperative institutions in agricultural and other commodities, articles and goods; 2. to undertake or promote on its own or on behalf of its member Institutions or the Government or Government Organisations, 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 canalisation 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; 3. to undertake purchase, sale and supply of agricultural products, marketing and processing requisites, such as manure, seeds, fertiliser, agricultural implements and machinery, packing machinery, construction requisites, processing machinery for agricultural commodities, forest produce, dairy, wool and other animal products;

4. to act as warehouseman under the Warehousing Act and own and construct its own godowns and cold storages; 5. 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; 6. to act as insurance agent and to undertake all such work which is incidental to the same; 7. to organise consultancy work in various fields for the benefit of the cooperative institutions in general and for its members in particular; 8. to undertake 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 or as a joint venture with any other agency, including import and distribution of spare-parts and components financial structure

* Achieved a turnover of Rs. 1063.28 crore during 2011-12. * NAFED earned Gross profit of Rs. 45.68 crore but due to huge interest liability on outstanding loans in Tie-up business, there is a net loss of Rs. 188.42 crore during the year 2011-12. * The share capital increased from Rs . 17.99 crore to Rs. 21.57 crore as on 31.3.2012. * Membership of the Federation stood at 842 as on 31.3.2012. * Continued to enjoy the status of “star Export House” as per Cerficate of recognition issued by Ministry of Commerce , Government of India. * In its commercial operations, NAFED achieved a turnover of Rs. 1051.76 crore in domestic trading of various agricultural commodities , which include PSS business also . * The exports by NAFED in its own account during the year 2011-12 were of the order of Rs. 11.52 crore. * NAFED continued to be one of the canalizing agencies for export of Onion. NAFED directly exported 6147 MTs of Onion to diffrent desinations valued at Rs. 11.52 crore.In addition, NAFED also issued NOCs for export of 323293 MTs Onion valuing Rs. 411

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