Union Cabinet Okays Rs 1 lakh cr outlay for more foodgrains storage

Modi's Mann Ki Baat

Rama Krishna Sangem

Union Cabinet chaired by Prime Minister Narendra Modi on May 31, Wednesday, took a decision to enhance food grains storage facility to cooperative societies in the country.  The Centre will introduce a policy for the world’s largest food grain storage scheme under the cooperative societies sector, said Union Information and Broadcasting minister Anurag Thakur during a Cabinet briefing later on Wednesday.

It has been announced that the government will allocate approximately Rs 1 lakh crore towards it. Under this plan, every block will have a godown with a capacity of 2,000 tonnes. An inter-ministerial committee has also been formed to oversee this, Thakur said. This is part of a plan to expand the country’s foodgrain storage facilities, which will help the cooperative sector, he said.

India currently has a storage capacity of 1.450 million tonnes. The cooperatives will add 70 million tonnes of capacity under the new scheme. This will improve food security in India, as well as help farmers get better prices for their products. Farmers had previously had to sell their wares in a hurry due to climate-related vagaries, he added. India has 65,000 agricultural cooperative societies.

The new initiative will benefit both agricultural societies and farmers, as well as consumers. Farmers will be able to obtain up to 70 per cent of loans from these societies in addition to storing their produce in the facilities, the Union minister said. Thakur further said this will result in significant savings in transportation costs.

Storage of food grains is one of the problems faced by farmers across the country for over a period of time. Lack of proper storage forces farmers to sell in distress their produce in the open markets. Adequate storage will not only ensure good prices for the produce, but also solve the food shortage problem, faced for certain schemes for the below the poverty line people in the contry.

Rama Krishna Sangem

Ramakrishna chief editor of excel India online magazine and website

One thought on “Union Cabinet Okays Rs 1 lakh cr outlay for more foodgrains storage

  1. Gd analysis. Mentioning one more point.. Near about 10% (34 million tonnes) foodgrains are being eaten by rats because lack of storage facilities.

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Rama Krishna Sangem

Excel India national news magazine is a media startup founded and piloted by Rama Krishna Sangem, a Hyderabad based senior journalist with over three decade experience in the field of media, mostly in print journalism. His rich experience in reporting for both Telugu and English newspapers and heading a TV news channel and some online outfits will be of immense use to this venture. Excel India English news magazine seeks to fill the gap of analytical understanding to our readers who today are confronted with myriad media platforms. Our online version not only offers regular updates and commentary on happenings around us, but also gives larger stories not limited by space constraints of a print magazine. Excel India is ably run by a team of senior journalists committed to values and quality standards in the profession. We urge you all to support and guide us in this endeavour. Reach us at excelindiaweb123@gmail.com