PM Modi inaugurated several major initiatives in the cooperative sector
Prime Minister Narendra Modi inaugurated and laid the foundation stone of several major initiatives related to the cooperative sector at Bharat Mandapam, New Delhi on 24 February.
Under this, PM Modi inaugurated the experimental project of the world’s largest grain storage scheme in the cooperative sector. This project is being implemented in 11 Primary Agricultural Credit Societies (PACS-PACS) in 11 states. Under this initiative, the PM also laid the foundation stone of additional 500 PACS across the country for construction of warehouses and other agriculture infrastructure.
Objective of the experimental project of grain storage scheme
The objective of this project is to seamlessly integrate PACS warehouses with the food grain supply chain, strengthening food security. It will promote economic growth in the country with a collaborative effort supported by NABARD and led by National Cooperative Development Corporation (NCDC).
It will be implemented by merging various existing schemes like Agricultural Infrastructure Fund (AIF), Agricultural Marketing Infrastructure (AMI) etc. This will enable the PACS participating in the project to avail the benefit of subsidy and interest subvention for infrastructure development.
The PM also inaugurated a project for computerization of 18,000 PACS across the country in line with the government’s vision of “Cooperative to Prosperity”, aimed at revitalizing the cooperative sector and empowering small and marginal farmers.
PM Modi’s view on cooperation
Prime Minister Narendra Modi said that cooperation is a concept that has been prevalent in India since ancient times. Inspired by a scripture, he said that big work can be accomplished by combining small resources together. This model was followed in the ancient village system in India.
Co-operation is the foundation of the country’s self-reliant society. It is not just a system but a belief, a feeling. This spirit of cooperatives transcends the limitations of systems and resources, which always gives us extraordinary results. He also said that co-operation has the potential to transform a normal system of daily life into a large entrepreneurial system. Along with this, it is also an effective way to bring change in the rural and agricultural economy. Therefore, a new ministry for cooperation has also been established in the country. Through which the government aims to bring together the scattered forces of India’s agricultural sector.
The Prime Minister said that due to the existence of a separate ministry, the benefits of cooperation in the country are now reaching the fishermen and cattle herders also. More than 25,000 cooperative units are operating in the fisheries sector. A target has been set to establish 2,00,000 cooperative societies in the next few years.
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