Union Cabinet has approved the establishment of a committee to implement the world’s largest grain storage plan in cooperative sector with a convergence of various schemes from different ministries. The pilot project will take place in 10 selected districts across states, which will give insights into specific regional needs, followed by the plan’s nationwide implementation. , Economy News, Times Now
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The Union Cabinet today approved a ₹ 1 lakh crore programme to create the world s largest grain storage capacity in the cooperative sector to reduce crop damages and prevent distress sales by farmers, besides strengthening the country s food security.The government is planning to create 700 lakh tonne of grain storage capacity in the cooperative sector over the next five years and said the move
The government s step comes in the wake of India currently having a storage capacity of 1450 lakh tonnes which allows storage of only 47 per cent of its grains produced in the country.
The proposals to set up the storage capacity and the inter-Ministerial Committee were approved by the Union Cabinet chaired by Prime Minister Narendra Modi.