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In a groundbreaking move, Prime Minister Narendra Modi launched the world’s largest grain storage plan in the cooperative sector, committing an investment of ₹1.25 lakh crore to construct a massive 700 lakh tonne storage capacity over the next five years. This transformative initiative is designed to benefit farmers across the country.
PM Modi inaugurated 11 godowns established by primary agricultural credit societies (PACS) in 11 states, symbolizing the commencement of a colossal project. The plan includes the construction of thousands of warehouses and godowns, fostering a robust storage infrastructure nationwide.
Under the scheme, farmers will gain the ability to store their produce in state-of-the-art godowns and warehouses. Moreover, they can leverage institutional credit against stored goods and strategically sell their products when market prices are favorable, ushering in a new era of financial empowerment for the farming community.
Prime Minister Modi took a swipe at previous administrations for neglecting storage infrastructure, leading to substantial losses for farmers. He emphasized that through PACS, the longstanding issue is being addressed. The ambitious food grain storage program aims to create a colossal 700 lakh tonne capacity, with an investment exceeding ₹1.25 lakh crore.
PM Modi urged cooperative organizations to play a pivotal role in reducing imports, particularly of food items, edible oils, pulses, and fertilizers. He advocated for cooperatives to compile a list of imported items and devise plans to produce or manufacture them locally. Modi emphasized the need to decrease fuel imports and highlighted the significant strides in ethanol production.
The Prime Minister underscored the government’s commitment to fostering the growth of the cooperative sector, reflecting on the “Sahakar se Samridhi” vision. Efforts to strengthen cooperatives include the establishment of a dedicated ministry, amendments to the Multi-State Cooperative Societies Act, and computerization of PACS, promoting transparency in the election system.
Looking ahead, the government aims to establish 2 lakh PACS in the next five years, with a particular focus on the fishery and allied farm sectors. PM Modi highlighted the success of farmer producer organizations (FPOs), with 8,000 already established out of the targeted 10,000, showcasing the entrepreneurial spirit among small farmers and their global recognition.
This monumental scheme envisions creating storage capacity for 100% of India’s grain production, seamlessly integrating PACS godowns into the food grain supply chain. Spearheaded by the National Cooperative Development Corporation (NCDC) and facilitated through the convergence of existing schemes, the initiative aims to revolutionize the agricultural landscape in India.
