PM Modi Unveils ₹1.25 Lakh Crore Initiative for Massive Grain Storage

Key Highlights:
•    PM Modi launches grain storage plan for farmers.
•    Over ₹1.25 lakh crore invested for 700 lakh metric tons storage capacity across 11 states.
•    18,000 PACS digitized for modern farming practices and digital payments.
•    Focus on empowering small farmers through cooperatives.
•    Aim to establish 10,000 FPOs for better market access.

In a significant move to benefit farmers, Prime Minister Narendra Modi has launched the world’s largest grain storage plan in the cooperative sector.

This ambitious initiative involves an investment of over ₹1.25 lakh crore and aims to create a storage infrastructure capable of holding 700 lakh metric tons of agricultural produce over the next five years. 

This initiative emphasizes the importance of supporting farmers and enhancing agricultural infrastructure across the nation.

Key Highlights of world’s largest grain storage plan:

Storage Capacity: The plan focuses on constructing thousands of godowns and warehouses across 11 states, providing a total storage capacity of 700 lakh metric tons.

Farmers’ Benefits: With improved storage facilities, farmers will be able to store their produce effectively and sell it at the right time, aligning with market demand. Additionally, this infrastructure will enable them to access loans from banks.

Cooperative Empowerment: The vision behind this initiative is to rejuvenate the cooperative sector and empower small and marginal farmers. Cooperatives play a crucial role in strengthening agriculture, and the separate Cooperation Ministry aims to support their growth.

Export Opportunities: Farmer Producer Organizations (FPOs) are already functional, and the goal is to establish 10,000 FPOs. Even those engaged in animal husbandry and fishing benefit from cooperatives. The government aims to create 2-lakh cooperative societies.

Gujarat Experience: Prime Minister Modi highlighted the strength of cooperatives during his tenure as Chief Minister of Gujarat. Initiatives like Amul and Lijjat Papad, led by women, exemplify the impact of cooperative efforts.

Modernizing Agricultural Infrastructure

Prime Minister Modi announced the establishment of numerous warehouses and storage facilities nationwide, emphasizing their far-reaching implications for the agricultural sector. 

One notable achievement is the successful computerization of 18,000 Primary Agricultural Credit Societies (PACS), marking a crucial step towards modernizing agricultural infrastructure through technology integration.

Crucial Role of PACS

Highlighting the importance of PACS, Prime Minister Modi underscored their pivotal role in engaging directly with rural borrowers, providing loans, managing repayments, and overseeing distribution and marketing functions.

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Cooperative Sector's Contribution

Prime Minister Modi acknowledged the indispensable contribution of the cooperative sector in strengthening the economy and driving rural development. He urged the cooperative sector to reduce India's dependence on imported agricultural commodities by playing a substantial role in agricultural production.

Fortifying the Cooperative Sector

As part of ongoing efforts to strengthen the cooperative sector, Prime Minister Modi inaugurated 11-grain storage facilities in PACS across 11 states. Additionally, he laid the foundation stone for 500 PACS nationwide, highlighting the construction of storage facilities and essential agricultural infrastructure.

Transformative Integration into the Food Grain Supply Chain

Prime Minister Modi highlighted the transformative integration of PACS storage facilities into the broader food grain supply chain. This collaborative initiative, led by the National Bank for Agriculture and Rural Development (NABARD) and the National Cooperative Development Corporation (NCDC), aims to enhance the efficiency of the agricultural ecosystem.