Prime Minister Narendra Modi is set to embark on an endeavor aimed at bolstering the cooperative sector of the nation. PM Modi will inaugurate and lay the foundation stone for multiple initiatives for the Cooperative sector on February 24 at Bharat Mandapam, New Delhi.
One of the highlights of this event is the inauguration of the pilot project for the ‘World’s Largest Grain Storage Plan in Cooperative Sector’. This groundbreaking endeavor is being launched in 11 Primary Agricultural Credit Societies (PACS) across 11 States. Additionally, the Prime Minister will lay the foundation stone for an additional 500 PACS nationwide, dedicated to the construction of godowns and other agricultural infrastructure. The objective of this initiative is to seamlessly integrate PACS godowns into the food grain supply chain, thereby enhancing food security and driving economic development. This collaborative effort, supported by NABARD and led by the National Cooperative Development Corporation (NCDC), aims to leverage various existing schemes like the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI) to provide subsidies and interest subvention benefits to PACS undertaking infrastructure development.
PM Modi will inaugurate a project for the computerization of 18,000 PACS across the country, aligning with the government’s vision of “Sahakar se Samridhi”, which seeks to revitalize the cooperative sector and empower small and marginal farmers.
This monumental project, with a financial outlay exceeding Rs 2,500 crore, entails transitioning all operational PACS onto a unified Enterprise Resource Planning (ERP) based national software platform, ensuring seamless integration and connectivity. By connecting these PACS with NABARD through State Cooperative Banks and District Central Cooperative Banks, the project aims to enhance the operational efficiency and governance of PACS, ultimately 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 onto the ERP software has already been completed, marking a significant milestone in the project’s implementation.