PM Modi launches world’s largest grain storage programme entailing investment of Rs 1.25 lakh cr

New Delhi: Prime Minister Narendra Modi on Saturday launched the world’s largest grain storage plan in the cooperative sector, entailing an investment of over Rs 1.25 lakh crore, with the inauguration of 11 godowns in primary agricultural credit societies (PACS) in as many states.

Under the programme, 700 lakh tonne of storage capacity will be created over the next five years in the cooperative sector by constructing thousands of godowns and warehouses, Modi said at an event here.

He also laid the foundation for creating godowns and other agri infrastructure in 500 more PACS.

“Today we have launched the world’s largest storage scheme for our farmers. Under this, thousands of warehouses and godowns will be constructed across the country,” he said after inaugurating 11 godowns set up by 11 PACS across 11 states.

He rued that farmers were forced to bear huge losses due to lack of storage infrastructure in the country.

“Previous governments never paid due attention to this problem. But today through PACS, this problem is being addressed. Under the world’s largest food grain storage programme, 700 lakh tonne storage capacity will be created in the next five years. On this initiative more than Rs 1.25 lakh crore will be spent,” the prime minister said.

With the creation of the huge storage facilities, Modi said farmers would be able to store their produce in the godowns/warehouses, get institutional credit against it, and sell their items when market prices are remunerative.