PM Modi rolls out world's largest grain storage scheme; details inside
PTC News Desk: PM Narendra Modi has rolled out the world's largest grain storage plan in the cooperative sector for farmers.
He announced a Rs 1.25 lakh crore investment to create a 700 lakh tonne storage capacity over the next five years. Thousands of warehouses and godowns will be built across the country as part of this scheme.
On Saturday, Modi inaugurated 11 godowns built by 11 primary agricultural credit societies (PACS) in 11 states.
He also laid the foundations for godowns and other agricultural infrastructure in 500 additional PACS. He also inaugurated a project to computerise 18,000 PACS across the country.
"Today, we introduced the world's largest storage scheme for our farmers. "Thousands of warehouses and godowns will be built across the country," PM Modi said.
The scheme aims to create adequate space to store all of India's grain production. It aims to seamlessly integrate PACS godowns with the food grain supply chain through a collaborative effort between NABARD and the National Cooperative Development Corporation (NCDC).
The initiative is being implemented by combining existing schemes such as the Agriculture Infrastructure Fund (AIF), Agriculture Marketing Infrastructure (AMI), and others to allow PACS participating in the project to receive subsidies and interest subvention benefits for infrastructure development.
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