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PM Modi Launches Pilot Project for World’s Largest Grain Storage Plan in Cooperative Sector

February 24, 2024
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NEW DELHI: Prime Minister Narendra Modi inaugurated the pilot project of the ‘World’s Largest Grain Storage Plan in Cooperative Sector,’ spanning 11 Primary Agricultural Credit Societies (PACS) across 11 states.

PM Modi launched several key initiatives in the cooperative sector during an event held at Bharat Mandapam in Delhi on Saturday.

During the occasion, PM Modi laid the foundation stone for an additional 500 PACS across the country, focusing on the construction of godowns and other agricultural infrastructure.

This initiative aims to integrate PACS godowns with the food grain supply chain, reinforcing food security and promoting economic development. NABARD supports this collaborative effort, spearheaded by the National Cooperative Development Corporation (NCDC).

“For a ‘Viksit Bharat’, it is important to modernise the agricultural sector. For this, we are preparing organisations such as PACs (Primary Agricultural Credit Societies) for new roles. These organisations are also working as Pradhan Mantri Jan Aushadhi Kendra.”, PM Modi said at the inaugration event.

The initiative is implemented by converging existing schemes like the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI). This enables PACS participating in the project to avail subsidies and interest subvention benefits for infrastructure development.
The Prime Minister also inaugurated a project for computerization in 18,000 PACS across the country, aligning with the government’s vision of ‘Sahakar se Samridhi’ to rejuvenate the cooperative sector and empower small and marginal farmers. With a financial outlay of over Rs 2,500 crore, this project involves transitioning all functional PACS onto a unified Enterprise Resource Planning (ERP) based national software.
The ERP software ensures seamless integration and connectivity by linking PACS with NABARD through State Cooperative Banks and District Central Cooperative Banks. This initiative aims to enhance the operation efficiency and governance of PACS, benefiting millions of small and marginal farmers. NABARD has developed a National Level Common Software tailored to meet the diverse needs of PACS across the country.
The onboarding of 18,000 PACS on ERP software has been completed, marking a significant milestone in the project’s implementation.

Amit Shah applauded PM Modi for transforming the cooperative sector, fulfilling the long-standing demand for a separate ministry for cooperation. Shah emphasized that PM Modi created a dedicated ministry for cooperation, addressing a concern that had been overlooked for years.

The event was attended by Union ministers Piyush Goyal and Arjun Munda.
(With agency inputs)

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)


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