Monday, May 20th, 2024

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

New Delhi (India), January 25:  NCCF & Agribid Conducts 3 days Camp for Training & Registration of PACS (Primary Agricultural Credit Society) at Delhi Road.

The camp received 100+ PACS registrations from all over Rajasthan on Day 1 i.e. 24-Jan-2024 and is open for 2 more days i.e. till 26-Jan-2024.

Ashutosh Mishra (Co-Founder & CEO of Agribid) was present at the camp and personally explained the benefits to PACS. NCCF officials at the venue also reiterated the benefits of the program to PACS and facilitated there registration.

In a significant move aimed at bolstering the cooperative sector and uplifting farmers across India, the Central Government, under the visionary leadership of Prime Minister Narendra Modi, is set to enhance the scope of Primary Agricultural Credit Society (PACS).

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 the creation of various agri infrastructures at the PACS level, including setting up decentralized godowns, custom hiring centers, processing units, Fair Price Shops, etc. through the 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 the 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.

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