Why in news?
Union cabinet has cleared a Rs 1 trillion scheme to increase food grain storage capacity in the cooperative sector.
About the Scheme
- This will be world’s largest grain storage plan in the cooperative sector.
- It will let cooperatives set up decentralised storage facilities across the country.
- It will lead to a creation of infrastructure such as godowns, etc. for Agriculture and Allied purposes, at selected ‘viable’ Primary Agricultural Credit Societies (PACS).
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Significance of Scheme
- Creation of decentralized storage capacity at the local level would reduce food grain wastage and strengthening food security of the country.
- By providing various options to the farmers, it would prevent distress sale of crops.
- It would hugely reduce the cost incurred in transportation of food grains to procurement centres.
Conclusion
The establishment of the world’s largest grain storage plan in the cooperative sector marks a significant milestone in the agricultural industry. This ambitious project demonstrates the commitment to efficient storage and management of grains, enhancing food security and promoting cooperative efforts.
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