PM Modi Boosts Cooperatives: Storage, Tech, and Modernization for Farmers

New Delhi, February 24, 2024: Prime Minister Narendra Modi today launched a series of initiatives to revitalize the cooperative sector, aiming to empower farmers and bolster India’s agricultural infrastructure.

Key Highlights:

• World’s Largest Grain Storage Scheme: A pilot project was inaugurated in 11 Primary Agricultural Credit Societies (PACS) across 11 states, marking the beginning of the “World’s Largest Grain Storage Scheme in Cooperative Sector.” This initiative aims to increase storage capacity and reduce post-harvest losses for farmers.
• 500 New PACS with Godowns: The Prime Minister laid the foundation stone for the construction of godowns and other agri-related infrastructure in 500 additional PACSs across the country. This expansion will further enhance storage capacity and provide essential services to farmers.
• Computerization of PACSs: All PACSs in India will be computerized by August 2024, bringing transparency, efficiency, and modernized services to the sector. This initiative, with an outlay of Rs.2500 crores, will create new business opportunities for PACSs.

Significance of the Initiatives:

Union Home Minister and Minister of Cooperation, Amit Shah, emphasized the importance of these initiatives in fulfilling Prime Minister Modi’s vision for a strengthened cooperative sector. He highlighted the need for increased storage capacity, currently only 47% in India compared to other developed nations, and expressed confidence that this project will achieve 100% storage capacity by 2027.

Benefits for Farmers:

These initiatives offer several potential benefits for farmers:

• Reduced post-harvest losses: Increased storage capacity will minimize food wastage and ensure better market returns for farmers.
• Access to modern infrastructure: Godowns and equipment will provide farmers with essential services like storage, machinery rental, and transportation.
• Improved transparency and efficiency: Computerization will streamline operations, enhance financial management, and foster trust within the cooperative sector.

Overall, these initiatives mark a significant step towards empowering farmers, strengthening the rural economy, and securing a more prosperous future for Indian agriculture.