World’s Largest Grain Storage Plan in the Cooperative Sector

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The Government of India has launched the World’s Largest Grain Storage Plan in the Cooperative Sector to strengthen rural storage infrastructure and improve the management of foodgrains. The initiative focuses on establishing modern storage facilities at the level of Primary Agricultural Credit Societies (PACS) and other cooperative institutions. By expanding storage capacity in rural areas, the programme aims to reduce post-harvest losses, provide farmers with easier access to storage facilities and enhance the efficiency of the agricultural supply chain.

Criteria for Selecting PACS

Primary Agricultural Credit Societies are selected for participation in the programme based on specific financial and operational conditions. The societies must first be identified and approved by the District Cooperative Development Committees (DCDC). Priority is given to locations identified by agencies such as the Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Cooperative Consumers’ Federation of India (NCCF) where there is a clear demand for additional storage capacity.

In addition, eligible PACS must meet certain financial requirements. They must have maintained a positive net worth for the previous two financial years, should not be classified as bank defaulters and must have reported profits for at least three consecutive years. The proposed storage facility should ideally have a minimum capacity of 500 metric tonnes.

Convergence of Government Schemes

The grain storage plan is being implemented through the integration of several existing government programmes. These include the Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMI), Sub Mission on Agricultural Mechanization (SMAM) and the Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME). By combining these schemes, the government aims to provide cooperatives with both financial assistance and technical support to build storage infrastructure and strengthen agricultural logistics.

Financial Assistance and Subsidy Support

Under the Agriculture Infrastructure Fund, PACS receive interest subvention on loans taken for constructing storage facilities. The Agricultural Marketing Infrastructure (AMI) scheme offers a subsidy of 33 percent for the construction of foodgrain godowns. The National Bank for Agriculture and Rural Development (NABARD) acts as the subsidy-channelising agency under AMI and is responsible for approving and releasing financial assistance.

State Cooperative Banks and District Central Cooperative Banks serve as the primary lending institutions for PACS under the programme. They are responsible for sanctioning and disbursing loans within the prescribed timelines. The initiative also utilises NABARD’s special refinance scheme, which significantly reduces borrowing costs for cooperatives. When combined with the three percent interest subvention provided under AIF, the effective loan interest rate for PACS is reduced to around one percent.

Additionally, some states such as Rajasthan and Gujarat are offering extra financial support through their own schemes to further encourage the construction of storage facilities under this initiative.

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