Mera Saansad
Search Search
English language

PM inaugurates and lays foundation stone of multiple key initiatives for Cooperative sector

Published By : Admin | February 24, 2024 | 10:35 IST
Inaugurates pilot Project of the 'World's Largest Grain Storage Plan in Cooperative Sector' in 11 PACS of 11 states
Lays foundation stone for additional 500 PACS across the country for construction of godowns & other agri infrastructure
Inaugurates project for computerization in 18,000 PACS across the country
“Cooperative sector is instrumental in shaping a resilient economy and propelling the development of rural areas”
“Cooperatives have the potential to convert an ordinary system related to daily life into a huge industry system, and is a proven way of changing the face of the rural and agricultural economy”
“A large number of women are involved in agriculture and dairy cooperatives”
“Modernization of agriculture systems is a must for Viksit Bharat”
“Viksit Bharat is not possible without creating an Aatmnirbhar Bharat”

The Prime Minister, Shri Narendra Modi today inaugurated and laid the foundation stone of multiple key initiatives for the Cooperative sector at Bharat Mandapam, New Delhi. The Prime Minister inaugurated the pilot project of 'World's Largest Grain Storage Plan in Cooperative Sector’, which is being done in 11 Primary Agricultural Credit Societies (PACS) of 11 States. The Prime Minister also laid the foundation stone for additional 500 PACS across the country for construction of godowns & other agri infrastructure under this initiative. This initiative aims to seamlessly integrate PACS godowns with the food grain supply chain, fortifying food security and fostering economic development in the country with a collaborative effort supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC). This initiative is being implemented through convergence of various existing schemes like the Agriculture Infrastructure Fund (AIF), Agriculture Marketing Infrastructure (AMI), etc. to enable PACS participating in the project to avail subsidies and interest subvention benefits for undertaking infrastructure development. The Prime Minister also inaugurated a project for computerization in 18,000 PACS across the country, aligning with the government's vision of "Sahakar se Samridhi" aimed at rejuvenating the cooperative sector and empowering small and marginal farmers.

Speaking on the occasion the Prime Minister noted that Bharat Mandapam is witnessing another milestone in the journey of Viksit Bharat i.e. a step forward in the direction of ‘Sahkaar se Samriddhi’.The power of cooperation has a huge role in strengthening the foundation of agriculture and farming, this has led to a separate Ministry for Cooperation. He said that the 'World's Largest Grain Storage Plan in Cooperative Sector’ launched today will result in thousands of warehouses and godowns in every corner of the country. This and other projects like computerization of PACs will give new dimensions to agriculture and modernize farming in the country.

The Prime Minister underlined that cooperatives are an ancient concept for India. Quoting a scripture, the Prime Minister explained that a large task can be accomplished if smaller resources are put together and said that this model was followed in the ancient system of villages in India. “Cooperatives were the foundations of India’s atmanirbhar society. It is not just any system, but a belief, a spirit”, PM Modi remarked, highlighting that this spirit of cooperatives is beyond the boundaries of systems and resources and produces exceptional results. He said that it has the potential to convert an ordinary system related to daily life into a huge industrious system, and a proven result of the changing face of the rural and agricultural economy. Through this new Ministry, the Prime Minister emphasized, the government aims to bring together the fragmented powers of the agricultural sector of India

Giving the example of Farmers Producers Organisation (FPOs), the Prime Minister noted the growing entrepreneurship among the small farmers in villages. He said due to having a separate Ministry, 8000 FPOs out of a target of 10,000 FPOs are already functional in the country. The benefits of cooperatives are now reaching fishermen and pushupalaks also. More than 25,000 cooperative units are functional in the fishery sector. The Prime Minister reiterated the government’s goal of establishing 200,000 cooperative societies in the coming years.

Recalling his experience as Chief Minister of Gujarat, the Prime Minister cited the success stories of Amul and Lijjat Papad as the power of cooperatives and also highlighted the central role of women in these enterprises. The government has given priority to women in the policies related to the cooperative sector. He mentioned ensuring board representation for women by amending the Multi-state Cooperative Societies Act.

The Prime Minister underlined that cooperatives have the potential to tackle the personal issues of farmers with collective strength and gave the example of storage. Pointing out the losses incurred by farmers due to lack of storage infrastructure, the Prime Minister drew attention to the world’s largest storage plan of 700 lakh metric tons initiated by the government and to be completed in the next 5 years at a cost of Rs 1.25 lakh crores. He said that it would enable farmers to store their produce and sell it at the right time according to their own needs while also helping to avail loans from banks.

“Modernization of agricultural systems is equally important for the creation of a Viksit Bharat”, the Prime Minister said, highlighting the government’s endeavour to create a new role for government organizations such as PACS. He stated that these committees are functioning as Jan Aushadhi Kendras while thousands of PM Kisan Samruddhi Kendras are also being operated. He also mentioned cooperative committees operating in the areas of petrol, diesel, and LPG cylinders while PACS also plays the role of water committees in several villages. This, the Prime Minister said, has increased the productivity of loan committees and also created new sources of income. “Cooperative committees are now acting as common service centers in villages and providing hundreds of facilities”, he added, noting the emergence of technology and digital India to take the services to farmers on a larger scale. He further added that it will create new employment opportunities for the youth in the villages.

The Prime Minister outlined the importance of cooperative institutions in the journey of Viksit Bharat. He asked them to contribute towards the goals of Aatmnirbhar Bharat. “Viksit Bharat is not possible without an Aatmanirbhar Bharat '', the Prime Minister stressed. He suggested that the cooperative should list the items for which we are dependent on import and explore how the cooperative sector can help with producing them locally. He gave an example of edible oil as a product that may be taken up. Similarly, cooperative push for ethanol can reduce dependence on oil imports for energy needs. Pulse import is another area that the Prime Minister suggested for cooperative societies for the reduction of foreign dependence. Many manufacturing goods can also be taken up by the cooperatives, he said.

The Prime Minister also underlined the role of the cooperatives in natural farming and turning farmers into Urjadata (provider of energy) and Urvarakdata (provider of fertilizer). He said rooftop solar and solar panels on the borders of the farms can be seen as areas for cooperative initiative. Similar intervention is feasible in Gobardhan, production of bio CNG, manure and waste to wealth. This will reduce fertilizer import bills also, he said. He asked the cooperative to come forward in global branding of the efforts of the small farmers. He also asked them to make Shri Anna-Millets available on dining tables globally.

Focussing on the role of the cooperative in increasing rural income, the Prime Minister noted the impact of the dairy cooperative in his constituency Kashi. He also noted the strides made by cooperatives in the honey sector as honey production increased from 75 thousand metric tonnes to 1.5 lakh metric tonnes and honey export increased from 28 thousand metric tonnes to 80 thousand metric tonnes in the last 10 years. Acknowledging the role of NAFED, TRIFED and state cooperatives, the Prime Minister asked to expand the ambit of these bodies.

Underlining the benefits of digital payment and Direct Benefit Transfer, the Prime Minister emphasized the need for direct and digital payment by the PACS. He also asked them to come forward for soil testing and make soil health card campaign a success.

The Prime Minister drew attention to increasing the contributions of the youth and women in cooperatives. He suggested that farmers associated with cooperatives be taught to analyse the health of the soil and make produce accordingly. He said that it would create a new environment and reenergize the sector. The Prime Minister also stressed creating awareness about skill development and training in the cooperative sector. “PACS and cooperative societies will also have to learn from each other”, the Prime Minister said, suggesting the creation of a portal for sharing best practices, a system for online training and modules to take forward best practices. Speaking about the Aspirational District Program, the Prime Minister mentioned creating healthy competition among districts and suggested a similar mechanism in the cooperative sector. He also touched upon the importance of bringing transparency in the elections of cooperative organizations to boost people's confidence.

The Prime Minister highlighted the government’s efforts to make cooperative societies the basis of prosperity and mentioned reducing the cess on cooperative societies with income between Rs 1 crore and Rs 10 crore from 12 percent to 7 percent. This has led to increased capital for the committees while also opening various avenues to move forward as a company. He pointed out the discrimination in alternative taxes between cooperative societies and companies and mentioned reducing the minimum alternate tax for societies from 18.5 percent to 15 percent, thereby establishing equality between cooperative societies and companies. The Prime Minister also stated increasing the withdrawal limit to Rs 3 crore from Rs 1 crore annually tackling the issue of TDS on withdrawals. Concluding the address, the Prime Minister expressed confidence that the joint efforts in the direction of cooperation will open up all the possibilities of development with the collective strength of the country.

Union Minister for Home Affairs and Cooperation, Shri Amit Shah, Union Minister for Agriculture, Shri Arjun Munda and Union Minister for Commerce, Shri Piyush Goyal were present on the occasion among others.

Background

The monumental project has been approved with a financial outlay of more than Rs 2,500 crore. This initiative involves transitioning all functional PACS onto a unified Enterprise Resource Planning (ERP) based national software, ensuring seamless integration and connectivity. By linking these PACS with NABARD through State Cooperative Banks and District Central Cooperative Banks, the project aims to enhance the operation efficiency & governance of PACS, thus benefiting crores of small & marginal farmers. NABARD has developed the National Level Common Software for this project, tailored to meet the diverse needs of PACS across the country. Onboarding of 18,000 PACS on ERP software has been completed, marking a significant milestone in the project's implementation.

Click here to read full text speech

Login or Register to add your comment
Explore More
Today, the entire country and entire world is filled with the spirit of Bhagwan Shri Ram: PM Modi at Dhwajarohan Utsav in Ayodhya

Popular Speeches

Today, the entire country and entire world is filled with the spirit of Bhagwan Shri Ram: PM Modi at Dhwajarohan Utsav in Ayodhya
View All
PLI schemes attract over Rs 2.16 lakh crore investment, generate 14.39 lakh jobs

Media Coverage

PLI schemes attract over Rs 2.16 lakh crore investment, generate 14.39 lakh jobs
View All
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
Download App
...
PM Modi inaugurates Phase I of Noida International Airport, developed with an investment of around ₹11,200 crore
March 28, 2026
The inauguration of Phase-I of Noida International Airport marks a major step in Uttar Pradesh’s growth story and India’s aviation future: PM
UP has now emerged as one of the states with the highest number of international airports in India: PM
Airports are not just basic facilities in any country, they give wings to progress: PM
Our government is making unprecedented investments in modern infrastructure to build a Viksit Bharat: PM

The Prime Minister, Shri Narendra Modi, today inaugurated the Noida International Airport at Jewar in Uttar Pradesh. Expressing his pride and joy on the occasion, the Prime Minister said that today marks a new chapter in the Viksit UP, Viksit Bharat Abhiyan. He noted that India's largest state has now become one of the states with the highest number of international airports. PM Modi shared that he felt doubly proud , first, for having laid the foundation stone of this airport and now inaugurating it, and second, because the name of this grand airport is linked to Uttar Pradesh. "This is the state that chose me as its representative and made me a Member of Parliament, and its identity is now associated with this magnificent airport," remarked Shri Modi.

Highlighting the far-reaching impact of the new airport, the Prime Minister said that the Noida airport will benefit a vast region encompassing Agra, Mathura, Aligarh, Ghaziabad, Meerut, Etawah, Bulandshahr, and Faridabad. He emphasised that the airport will bring numerous new opportunities for the farmers, small and medium enterprises, and the youth of western Uttar Pradesh. "Aircraft will fly from here to the world, and this airport will also become a symbol of a developed Uttar Pradesh taking flight," said Shri Modi, extending his heartfelt congratulations to the people of the state, especially western UP.

Speaking about the current global situation, the Prime Minister observed that the entire world is deeply concerned today, with a war raging in West Asia for over a month, creating crises of essential commodities including food, petrol, diesel, gas, and fertilizers in many countries. He noted that India imports a very large quantity of crude oil and gas from the conflict-affected region. "The Government is taking every possible step to ensure that the burden of this crisis does not fall on ordinary families and farmers," affirmed Shri Modi.

Underscoring India's continued momentum of rapid development even during times of global crisis, the Prime Minister noted that in Western Uttar Pradesh alone, this is the fourth major project to be either inaugurated or have its foundation stone laid in recent weeks. "During this period, the foundation stone of a major semiconductor factory in Noida was laid, the country's first Delhi-Meerut Namo Bharat train gained speed, the Meerut Metro was expanded, and today the Noida International Airport is being inaugurated," highlighted PM Modi.

The Prime Minister credited the current Government for these remarkable achievements in UP's development. He noted that the semiconductor factory is making India self-reliant in technology, the Meerut Metro and Namo Bharat Rail are providing fast and smart connectivity, and the Jewar Airport is connecting entire North India to the world. " Today under the current government, the same Noida is becoming a powerful engine of UP's development," asserted Shri Modi.

Elaborating on the history of the airport project, The Prime Minister recalled that the Jewar Airport was approved by Atal ji as early as 2003. And as soon as the current government was formed here, the foundation was laid, construction happened, and now it has started operations," said Shri Modi.

Drawing attention to the region's emerging role as a logistics hub, the Prime Minister pointed out that this area is becoming the hub of two major freight corridors , special railway tracks laid for goods trains, which have enhanced North India's connectivity with the seas of Bengal and Gujarat. He noted that Dadri is the strategic point where both these corridors converge, meaning whatever farmers grow and industries produce here can now reach every corner of the world swiftly, by land and by air. "This kind of multi-modal connectivity is making UP a major attraction for investors worldwide," explained PM Modi.

Addressing the transformation of the region's image, the Prime Minister said. "Today, Noida is ready to welcome the entire world. This whole area is strengthening the resolve of Aatmanirbhar Bharat”.

The Prime Minister expressed his gratitude to the farmers who gave up their lands to make this project a reality, noting that agriculture and farming hold great importance in the region's economy. Shri Modi noted that the expansion of modern connectivity will further boost food processing prospects in Western UP, adding, "The agricultural produce from here will now reach global markets more efficiently."

Acknowledging the contribution of sugarcane farmers to reducing India's dependence on crude oil, the Prime Minister highlighted the significant role of ethanol produced from sugarcane. PM Modi highlighted that without the increase in ethanol production and its blending with petrol, India would have had to import an additional four and a half crore barrels,approximately 700 crore litres of crude oil annually, adding, "The hard work of our farmers has given the country this enormous relief during the time of crisis."

The Prime Minister further elaborated that ethanol has not only benefited the nation but has also greatly benefited farmers, with approximately Rs 1.5 lakh crore worth of foreign exchange being saved. He recalled the earlier days when sugarcane farmers had to wait for years for their dues. "Today, thanks to the efforts of the current Government, the condition of sugarcane farmers has improved significantly," affirmed Shri Modi.

Emphasizing that airports are not merely amenities but catalysts for progress, the Prime Minister pointed out the remarkable expansion of India's aviation infrastructure. Highlighting that today, there are more than 160 airports, PM Modi remarked that the Air connectivity is now reaching not just metropolitan cities but also smaller towns. “ The current government has made air travel accessible for the common Indian," asserted Shri Modi, adding that the number of airports in Uttar Pradesh has been increased to seventeen.

Highlighting the impact of the UDAN scheme, the Prime Minister said that the government has consistently strived to ensure that while airports are built, airfares remain within the reach of ordinary families. Noting that more than one crore sixty lakh citizens have travelled by air at affordable rates by booking tickets under the UDAN scheme, Shri Modi remarked, “ Recently, the Central Government has further expanded the UDAN scheme with an approval of approximately Rs 29,000 crore, under which 100 new airports and 200 new helipads will be built in smaller cities in the coming years. UP will also benefit immensely from this."

Speaking about India's rapidly growing aviation sector, the Prime Minister noted that as new airports are being built, the demand for new aircraft is also rising, with various airlines placing orders for hundreds of new planes. Shri Modi observed that this creates tremendous opportunities for the youth, including pilots, cabin crew, and maintenance professionals, adding that "our government is also expanding training facilities in the aviation sector" to meet this growing demand.

Addressing a critical gap in India's aviation ecosystem, the Prime Minister drew attention to the Maintenance, Repair, and Overhaul (MRO) sector, noting that 85 per cent of Indian aircraft still have to go abroad for MRO services. PM Modi noted that the government has resolved to make India self-reliant in the MRO sector as well and highlighted that today, the foundation stone of an MRO facility has been laid here at Jewar. “When ready, it will serve aircraft from India and abroad , generating revenue for the country, keeping our money within India, and creating numerous jobs for the youth," announced Shri Modi.

Underlining the government's priority of ensuring citizen convenience and saving their time and money, the Prime Minister spoke about the expansion of modern rail services such as Metro and Vande Bharat. "The Delhi-Meerut Namo Bharat Rail has already been used by over two and a half crore passengers. The journey between Delhi and Meerut that used to take hours is now completed in minutes," said PM Modi.

Underscoring the unprecedented investment in modern infrastructure for a Viksit Bharat, the Prime Minister shared that over the past eleven years, the infrastructure budget has been increased more than six-fold, with Rs 17 lakh crore spent on highways and expressways and over one lakh kilometres of highways constructed. He noted that railway electrification has expanded from 20,000 kilometres before 2014 to over 40,000 kilometres since then, with nearly 100 per cent of the broad-gauge network now electrified. The Prime Minister highlighted that for the first time, the Kashmir Valley and the capitals of the North-East are being connected to the rail network, while port capacity has more than doubled in the past decade and the number of inland waterways continues to grow. "India is working at a rapid pace in every sector necessary for building a Viksit Bharat," stated Shri Modi.

Calling for collective effort and national unity in the face of global challenges, the Prime Minister said he had spoken at length in Parliament and held detailed discussions with Chief Ministers about tackling the crisis arising from the ongoing conflict. He appealed to the people to face this crisis with a calm mind and patience, calling it the greatest strength of Indians. PM Modi reiterated that what is in the interest of Indians and in the interest of India, that alone is the policy and strategy of the Government of India." I am fully confident that all political parties will lend strength to the country's united efforts”, concluded Shri Modi.