PM Modi to Inaugurate Multiple Key Initiatives to Bolster Cooperative Sector
New Delhi, 23rd Feb. In a significant stride towards enhancing the cooperative sector’s resilience and efficacy, Prime Minister Narendra Modi is set to inaugurate and lay the foundation stone of several pivotal initiatives on February 24, 2024, at 10:30 AM at Bharat Mandapam, New Delhi.
Among the notable endeavors, Prime Minister Modi will inaugurate the pilot project of the ‘World’s Largest Grain Storage Plan in the Cooperative Sector’, implemented across 11 Primary Agricultural Credit Societies (PACS) spanning 11 states.
Additionally, he will lay the foundation stone for an additional 500 PACS nationwide, aimed at constructing godowns and augmenting agricultural infrastructure. This pioneering initiative seeks to seamlessly integrate PACS godowns into the food grain supply chain, bolstering food security and catalyzing economic growth.
Supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC), the initiative leverages the convergence of existing schemes such as the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI) to facilitate subsidies and interest subvention benefits for infrastructure development.
Furthermore, Prime Minister Modi will inaugurate a project for the computerization of 18,000 PACS across the country, aligning with the government’s vision of “Sahakar se Samridhi” (Prosperity through Cooperation).
This transformative project, with a financial outlay exceeding Rs 2,500 crore, endeavors to transition operational PACS onto a unified Enterprise Resource Planning (ERP) based national software. This integration aims to optimize the efficiency and governance of PACS, benefiting millions of small and marginal farmers.
NABARD’s development of a National Level Common Software tailored to PACS’ diverse needs underscores the project’s commitment to technological advancement and inclusive growth. The successful onboarding of 18,000 PACS onto the ERP software signifies a significant milestone in the project’s implementation journey.
