PM Modi launches world’s largest grain storage project for cooperative sector

This initiative encompasses 11 Primary Agricultural Credit Societies (PACS) spanning 11 states, aiming to establish a seamless integration of PACS godowns with the food grain supply chain.

On February 24th, 2024, Prime Minister Narendra Modi is set to inaugurate and lay the foundation stone for several initiatives aimed at revitalizing the cooperative sector in India. The event, scheduled to commence at 10:30 AM at Bharat Mandapam, New Delhi, marks a significant milestone in the government’s commitment to bolstering agricultural infrastructure and empowering small and marginal farmers across the country.

One of the key highlights of the event is the inauguration of the pilot project for the ‘World’s Largest Grain Storage Plan in Cooperative Sector.’ This initiative encompasses 11 Primary Agricultural Credit Societies (PACS) spanning 11 states, aiming to establish a seamless integration of PACS godowns with the food grain supply chain. By fortifying food security and enhancing economic development, this project, supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC), underscores the government’s dedication to ensuring agricultural prosperity.

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In addition, Prime Minister Modi will lay the foundation stone for an additional 500 PACS across the nation, earmarked for the construction of godowns and other agricultural infrastructure. This expansion initiative seeks to amplify the reach and impact of the cooperative sector, enabling more farmers to benefit from enhanced storage facilities and streamlined supply chain mechanisms. The convergence of various existing schemes, such as the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI), further underscores the government’s commitment to fostering a conducive ecosystem for agricultural growth and development.

Furthermore, the inauguration of the project for computerization in 18,000 PACS nationwide heralds a new era of digital empowerment for the cooperative sector. Aligned with the government’s vision of “Sahakar se Samridhi,” this initiative aims to enhance operational efficiency and governance by transitioning all functional PACS onto a unified Enterprise Resource Planning (ERP) based national software. Developed by NABARD, the National Level Common Software promises to revolutionize the functioning of PACS, enabling seamless integration and connectivity with state and district-level cooperative banks.

With a financial outlay exceeding Rs 2,500 crore, these initiatives underscore the government’s commitment to revitalizing the cooperative sector and empowering farmers across the length and breadth of the nation. As Prime Minister Modi inaugurates and lays the foundation stone for these monumental projects, the cooperative sector embarks on a new trajectory of growth, resilience, and prosperity.