NCCF Conducts Mega Drive for Training & Registration of PACS for ‘The World’s Largest Grain Storage Scheme’

In order to address the shortage of food grain storage capacity in the country, the Government has approved the “World’s Largest Grain Storage Plan in Cooperative Sector”, which is being rolled out as a Pilot Project in different states/UTs of the country.

The Plan entails creation of various agri infrastructure at PACS level, including setting up decentralized godowns, custom hiring center, processing units, Fair Price Shops, etc. through convergence of various existing schemes of the Government of India (GoI), such as, Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMI), Sub Mission on Agricultural Mechanization (SMAM) Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME), etc. Under these schemes, PACS can avail subsidies and interest subvention benefits for construction of godowns/storage facilities and setting up of other agri infrastructure. Further, NABARD is also extending financial support to PACS by refinancing them at highly subsidized rates. Therefore, the plan aims to strengthen the economic condition of PACS by diversifying their business activities and giving them additional sources of revenue thus improving their financial sustainability.