Question

Why is a weekly market called so?

Answer 1

Hint: Physical markets play an important role in the Indian economy. Most people shop at markets in India because technological means required for virtual or online markets are not available to all. Weekly markets are common both in urban and rural areas in India. They are set up for the sale of various products ranging from fresh fruits, vegetables and other food products to traditional clothing, jewelry and other household items. Markets in different cities and villages across India sell items of the region’s cultural significance which vary from one place to another because of the country’s rich diversity.

Complete answer: A weekly market is a specific day of the week on which it is held. There are no permanent shops and it's mostly a vegetable market, fruit market or local clothes sellers who set up makeshift markets in an open area. The Municipal Corporation allocates the area for such a market as it is the highest among the three urban local self-government bodies constituted under the 74th Amendment Act, 1992. They derive their functions from those delegated to them by the state government and the matters contained in the 12th Schedule of the Constitution.

Note: The 73rd Amendment Act (1992) provides for a three-tier system of Panchayati Raj with Gram Sabha as the base in villages, and above it, panchayats will be constituted at intermediate block and district levels. The 74th Amendment Act (1992) provides for the constitution of urban local self-government bodies—Municipal Corporations, Municipal Councils and Nagar Panchayats depending upon the population in each notified area of the country.