He inaugurated the pilot project of 'World's Largest Grain Storage Plan in Cooperative Sector’, which is being done in 11 Primary Agricultural Credit Societies (PACS) of 11 states. The Prime Minister also laid the foundation stone for an additional 500 PACS across the country for the construction of godowns and other agri-infrastructure under this initiative.
Speaking at the event, which was attended by Union Home Minister Amit Shah also, Modi said: "Today, Bharat Mandapam is becoming a witness to another major accomplishment in the Amrit Yatra of Viksit Bharat. 'Sahkar se samriddhi' - we are going further ahead in realising this resolution taken by the country. In strengthening the foundation of agriculture and farming, the power of cooperation plays a very big role. With this mindset, we formed a separate Ministry of Cooperation."
According to a government press release, this initiative aims to seamlessly integrate PACS godowns with the food grain supply chain, fortifying food security and fostering economic development in the country with a collaborative effort supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC).
This initiative is being implemented through the convergence of various existing schemes like the Agriculture Infrastructure Fund (AIF), Agriculture Marketing Infrastructure (AMI), etc. to enable PACS participating in the project to avail subsidies and interest subvention benefits for undertaking infrastructure development, the release further stated.
PM Modi also inaugurated a project for computerisation in 18,000 PACS across the country, aligning with the government's vision of "Sahakar se Samridhi" aimed at rejuvenating the cooperative sector and empowering small and marginal farmers, according to the release.
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