Prime Minister Narendra Modi will today inaugurate and lay the foundation stone for several key initiatives aimed at strengthening the cooperative sector in the country. The ceremony will begin at 10:30 am at Bharat Mandapam in New Delhi, signifying a pivotal move towards improving food security, economic development, and governance in the cooperative domain.
World’s largest grain storage plan
The Prime Minister will inaugurate the pilot project for the ‘World’s Largest Grain Storage Plan in Cooperative Sector.’ This groundbreaking initiative spans 11 Primary Agricultural Credit Societies (PACS) in 11 States. The project aims to seamlessly integrate PACS godowns into the food grain supply chain, enhancing food security and fostering economic development.
Supported by NABARD and led by the National Cooperative Development Corporation (NCDC), this initiative involves the convergence of various existing schemes, including the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI).
Expansion of PACS and agri infra
Another pivotal aspect of the Prime Minister’s agenda is laying the foundation stone for an additional 500 PACS across the country. These PACS will facilitate the construction of godowns and other agricultural infrastructure.
The move is a collaborative effort, with PACS participating in the project set to benefit from subsidies and interest subvention benefits under existing schemes.
This strategic approach underscores the commitment to integrate PACS into the broader agricultural framework, ensuring a more robust and efficient system.
Digital transformation of PACS
Aiming to align with the government’s vision of “Sahakar se Samridhi,” Prime Minister Modi will inaugurate a project for the computerization of 18,000 PACS nationwide.
This initiative, with a financial outlay exceeding Rs 2,500 crore, involves transitioning all functional PACS onto a unified Enterprise Resource Planning (ERP) based national software. By linking these PACS with NABARD through State Cooperative Banks and District Central Cooperative Banks, the project seeks to enhance operational efficiency and governance, ultimately benefiting millions of small and marginal farmers.