Strengthening the Cooperative Sector PM Modi’s Key Initiatives Unveiled
Strengthening the Cooperative Sector PM Modi’s Key Initiatives Unveiled Prime Minister Narendra Modi is set to inaugurate and lay the foundation stone of multiple key initiatives for the cooperative sector on February 24, 2024. These initiatives aim to fortify the cooperative movement in India, enhancing infrastructure, efficiency, and governance within the sector. Let’s delve into the details of these transformative projects aimed at empowering farmers and fostering economic development.
Strengthening the Cooperative Sector PM Modi’s Key Initiatives Unveiled
Inauguration of ‘World’s Largest Grain Storage Plan’
- PM Modi will inaugurate the pilot project of the ‘World’s Largest Grain Storage Plan in Cooperative Sector’ in 11 Primary Agricultural Credit Societies (PACS) across 11 states.
- This initiative aims to integrate PACS godowns with the food grain supply chain, bolstering food security and economic development.
- The project is supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC)
- Leveraging various existing schemes to facilitate infrastructure development.
Foundation Stone Laying for Additional PACS
- PM Modi will lay the foundation stone for an additional 500 PACS across the country for the construction of godowns and other agricultural infrastructure.
- This initiative seeks to expand the reach of PACS infrastructure, enabling seamless integration with the agricultural supply chain.
- By availing subsidies and interest subvention benefits, PACS participating in the project will be empowered to undertake infrastructure development.
- Furthering the cooperative sector’s growth.
Inauguration of Computerization Project
- The Prime Minister will inaugurate a project for the computerization of 18,000 PACS across the country.
- Aligned with the vision of “Sahakar se Samridhi,” this initiative aims to rejuvenate the cooperative sector and empower small and marginal farmers.
- With a financial outlay exceeding Rs. 2,500 crore, the project entails transitioning functional PACS to a unified ERP-based national software.
- Enhancing operational efficiency and governance.
Significance of the Initiatives
- These initiatives mark a significant step towards modernizing the cooperative sector and empowering farmers across the country.
- By integrating PACS with the agricultural supply chain and leveraging technology for governance.
- The projects aim to enhance the sector’s contribution to economic development.
- The onboarding of 18,000 PACS onto the ERP software signifies a major milestone.
- Demonstrating the government’s commitment to fostering cooperative growth and prosperity.
Conclusion
Prime Minister Narendra Modi’s unveiling of key initiatives for the cooperative sector underscores the government’s dedication to empowering farmers and fostering economic development. By integrating PACS with the agricultural supply chain, expanding infrastructure, and leveraging technology for governance, these initiatives pave the way for a more resilient and prosperous cooperative sector in India. As the nation progresses towards inclusive growth, these transformative projects will play a pivotal role in realizing the vision of a prosperous and empowered agricultural community.
