World's Largest Grain Storage Plan Approved in Cooperative Sector

Why in news

The government has approved the World's Largest Grain Storage Plan, focusing on creating agri infrastructure at the Primary Agriculture Credit Society (PACS) level through convergence of existing schemes.

Exam relevance

GS2, GS3 · Governance, Economy, Society · Prelims · Mains

Key facts

1. The World's Largest Grain Storage Plan in the Cooperative Sector was approved on May 31, 2023.
2. The plan aims to create agri infrastructure at the Primary Agriculture Credit Society (PACS) level.
3. Infrastructure to be created includes warehouses, custom hiring centers, processing units, and Fair Price Shops.
4. The plan will utilize convergence of existing Government of India schemes like AIF, AMI, SMAM, and PMFME.

Prelims pointers

• The World's Largest Grain Storage Plan is being implemented in the cooperative sector.
• Primary Agriculture Credit Societies (PACS) are central to the plan's infrastructure development.
• The plan involves creating warehouses, custom hiring centers, processing units, and Fair Price Shops.
• Convergence of schemes like AIF, AMI, SMAM, and PMFME is a key feature.

Mains practice question

Discuss the significance of the World's Largest Grain Storage Plan in the cooperative sector for India's food security and rural economy. What are the potential challenges in its implementation?

Static linkage

The plan leverages the cooperative sector, a key component of India's agricultural and rural economy, and aims to strengthen Primary Agriculture Credit Societies (PACS) which are the grassroots level cooperative institutions.

Significance

This plan is significant for enhancing food security by reducing post-harvest losses, improving storage capacity, and strengthening the agricultural supply chain. By integrating various existing schemes, it aims for efficient resource utilization and aims to boost the rural economy through improved infrastructure and formalization of micro food processing enterprises. Strengthening PACS can empower farmers and improve their access to credit and markets.