The government of India has announced a policy for the world’s biggest foodgrain storage scheme. The scheme will function under the Cooperative societies sector. Through this initiative, the government of India is placing significant emphasis on the development of the agriculture sector. In addition to the foodgrain storage scheme, they have announced that they plan to create 1100 new Farmer producer Organizations.Â
The aforementioned initiatives are two among the several steps that the government has taken for the development of the agriculture sector. Through these initiatives, the government of India also seeks to increase the income of the farmers. Additionally, The government has announced that they would put a sum of 1 Lakh Crore towards this initiative. According to the reports, the government will construct a godown of 2,000 tonnes capacity in every block.
For this, they will create a inter-ministerial committee. The Union Minister Anurag Thakur stated that this initiative is a part of the government’s plan to expand storage facilities. He believes that the capacity of the Cooperative sector of the country will get a boost due to this initiative. The programme is aimed towards increasing the foodgrain storage capacity of the country by 700 lakh tonnes.Â
Currently, the storage capacity for the foodgrain storage is 1,450 Lakh tonnes. Meanwhile, after the initiative of the Cooperative sector, this capacity will increase by 2,150 Lakh tonnes. Lack of the storage capacity often leads to damage for the foodgrains. Accordingly, this move aims to reduce distress sales for the farmers. The initiative will reduce the dependence of the markets on the imports of foodgrain. It will also create more opportunities for employment in rural India.Â
The initiative will lead to a boost in the food security of the country. It will help the farmers get better prices for their produce. The government is committed to the cause of developing and uplifting the agriculture sector of the country.Â
