PM Modi Launches World's Largest Storage Scheme for Farmers

In an event on Saturday, Prime Minister Narendra Modi launched an excellent global initiative, exclusively designed to benefit farmers by establishing the largest storage scheme worldwide. 

Emphasizing the far-reaching implications of this journey, he announced the establishment of numerous warehouses and storage facilities across the nation. One of the achievements of this initiative is the successful computerization of 18,000 Primary Agricultural Credit Societies (PACS), representing a pivotal step towards modernizing agricultural infrastructure through seamless integration with state-of-the-art technology.

PACS, highlighted by the Prime Minister, assumes a crucial role in direct engagement with rural borrowers, providing loans, managing repayments, and overseeing distribution and marketing functions. He also highlighted the indispensable contribution of the cooperative sector in strengthening the economy and driving rural development, characterizing it as a vital force propelling India's progress.

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In his address to the gathering, Prime Minister Modi urged the cooperative sector to play a substantial role in reducing India's dependence on imported agricultural commodities, such as edible oils and fertilizers. As part of the ongoing efforts to fortify the cooperative sector, the Prime Minister inaugurated 11-grain storage facilities in PACS across 11 states, marking a moment in the government's flagship 'World's Largest Grain Storage Plan' within the cooperative sector.

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The inaugural ceremony also witnessed the laying of the foundation stone for an additional 500 PACS nationwide, highlighting the construction of storage facilities and other essential agricultural infrastructure.

Prime Minister Modi signifies a transformative integration of PACS storage facilities into the broader food grain supply chain. This collaborative initiative, headed by the National Bank for Agriculture and Rural Development (NABARD) and the National Cooperative Development Corporation (NCDC), aims to enhance the efficiency of the agricultural ecosystem.

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