India approves world's largest food storage scheme in co-operative sector
The Union Cabinet on 31st May approved forming and empowering an Inter-Ministerial Committee (IMC) to create the “world’s largest grain storage plan in the cooperative sector” by converging 8 ongoing schemes of three ministries.
An overview of the news
This ₹1 trillion scheme will be the world's largest grain storage scheme in the cooperative sector.
The scheme will help cooperatives set up decentralized storage facilities across the country, which is likely to reduce the burden on the Food Corporation of India (FCI).
This will reduce wastage of agricultural produce and help farmers to plan their sales better.
Implementation of the scheme
An Inter-Ministerial Committee (IMC) will be constituted under the chairmanship of the Cooperation Minister.
The Minister of Agriculture and Farmers Welfare, Minister of Consumer Affairs, Food and Public Distribution, Minister of Food Processing Industries and concerned Secretaries will be the members of this Inter-Ministerial Committee (IMC).
The Ministry of Cooperation will implement a pilot project in at least 10 selected districts of different States/UTs of the country.
8 Schemes identified for convergence
Schemes of Ministry of Agriculture and Farmers Welfare
Agriculture Infrastructure Fund (AIF)
Agricultural Marketing Infrastructure Scheme (AMI)
Mission for Integrated Development of Horticulture (MIDH)
Sub Mission on Agricultural Mechanization (SMAM)
Schemes of Ministry of Food Processing Industries
Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME)
Pradhan Mantri Kisan Sampada Yojana (PMKSY)
Schemes of Ministry of Consumer Affairs, Food and Public Distribution
Allocation of food grains under the National Food Security Act
Procurement operations at Minimum Support Price
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