Prime Minister Modi Unveils Landmark Initiatives for Cooperative Sector Advancement

New Delhi: In a significant move to bolster the cooperative sector, Prime Minister Shri Narendra Modi inaugurated and laid the foundation stone for key initiatives at Bharat Mandapam in New Delhi today. The initiatives included the pilot project of the ‘World’s Largest Grain Storage Scheme in Cooperative Sector,’ spanning 11 Primary Agricultural Credit Societies (PACSs) across 11 states. Additionally, the Prime Minister initiated the foundation stone laying for an additional 500 PACSs nationwide, focusing on the establishment of godowns and other agriculture-related infrastructure. The project for the computerization of 18,000 PACSs was also inaugurated.

The event witnessed the presence of Union Home Minister and Minister of Cooperation Shri Amit Shah, Union Agriculture and Farmers Welfare Minister Shri Arjun Munda, Union Consumer Affairs, Food and Public Distribution Minister Shri Piyush Goyal, Minister of State for Cooperation Shri BL Verma, and other dignitaries.

In his address, Shri Amit Shah highlighted Prime Minister Modi’s dedicated efforts to rejuvenate the cooperative sector. Acknowledging the longstanding demand for a separate Ministry of Cooperation, Shri Shah emphasized the need for changes to modernize and bring transparency to the cooperative sector. Over 54 initiatives have been undertaken since the formation of the Ministry of Cooperation, with a focus on transforming PACSs into APACS, ushering in new vitality to every dimension.

Shri Shah emphasized the rejuvenation of the cooperative sector, attributing it to Prime Minister Modi’s decision to establish a separate ministry. The computerization of over 18,000 PACSs, starting today, is a monumental step towards transparency, modernization, and creating business opportunities.

The Minister highlighted the completion of the computerization of PACSs in a short span and the upcoming computerization of an additional 30,000 PACSs, fostering transparency, modernization, and generating business opportunities.

Shri Amit Shah shared that new bye-laws for PACSs have been prepared, accepted, and implemented by state governments, allowing PACSs to engage in 20 different activities. This includes work in areas such as dairy, water management, participation in the blue revolution, and contributing to increased storage capacity.

Prime Minister Modi’s approval of an expenditure of Rs. 2500 crores for PACSs computerization reflects the commitment to strengthening them. The Minister expressed confidence that by August 2024, all PACSs in the country would be computerized and integrated with the software.

Shri Amit Shah also introduced the world’s largest cooperative food grain storage scheme. Beginning as a pilot project across 11 PACSs, the scheme now extends to 500 godowns, marking a new beginning and an integrated effort to increase storage capacity through the cooperative sector.

India’s current storage capacity for food grain production is only 47%, significantly lower than global standards. Shri Shah underscored the need for increased storage capacity, ensuring farmers can store their produce during price fluctuations. The PACSs-linked godowns will offer modern amenities such as racks, computerized systems, and equipment on a rental basis, fostering a stronger connection between PACSs and farmers.

The strategic vision and guidance of Prime Minister Shri Narendra Modi have played a pivotal role in crafting a scientific and modernized cooperative sector, ensuring sustainability and growth. Shri Amit Shah affirmed that the initiatives launched today would fortify the cooperative sector, making it a key player in India’s agricultural and economic development.