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PM Modi to Boost Cooperative Sector with Landmark Initiatives

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Delhi: In a momentous stride towards bolstering the cooperative sector, Prime Minister Narendra Modi is poised to unveil a series of groundbreaking initiatives on February 24, 2024, at Bharat Mandapam, New Delhi. These transformative endeavors are poised to revolutionize the landscape of cooperative farming and empower small-scale agricultural stakeholders across the nation.

A highlight of the event will be the inauguration of the pilot project for the ‘World’s Largest Grain Storage Plan in Cooperative Sector’. This ambitious endeavor, spanning 11 Primary Agricultural Credit Societies (PACS) across 11 states, aims to fortify food security and stimulate economic growth by seamlessly integrating PACS godowns with the food grain supply chain.

“Spearheaded by the National Cooperative Development Corporation (NCDC) and supported by NABARD, this initiative is set to galvanize the cooperative sector through convergence with existing schemes like the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI)”.

Furthermore, Prime Minister Modi will lay the foundation stone for an additional 500 PACS nationwide, earmarked for the construction of godowns and other agricultural infrastructure. This strategic move underscores the government’s commitment to fostering a conducive environment for agricultural development and rural prosperity.

In tandem with the inauguration of infrastructure projects, Prime Minister Modi will kickstart a comprehensive computerization initiative for 18,000 PACS across the country. Aligned with the vision of “Sahakar se Samridhi”, this endeavor seeks to rejuvenate the cooperative sector by enhancing operational efficiency and governance. Through the adoption of unified Enterprise Resource Planning (ERP) software, developed by NABARD, these PACS will be seamlessly integrated into a national network, facilitating streamlined operations and improved service delivery.

With a monumental financial outlay exceeding Rs 2,500 crore, these initiatives represent a significant leap forward in realizing the government’s vision of empowering small and marginal farmers. The successful onboarding of 18,000 PACS onto ERP software marks a pivotal milestone in the journey towards a digitally-enabled cooperative ecosystem, poised to catalyze agricultural growth and prosperity across the nation.

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