The Union Cabinet has given its approval to a ₹1 lakh crore program aimed at increasing foodgrain storage capacity by 700 lakh tonnes in the cooperative sector. Currently, the country’s grain storage capacity stands at approximately 1,450 lakh tonnes.
Over the next five years, the storage capacity will be expanded to 2,150 lakh tonnes, with a particular focus on the cooperative sector.
Described as the “world’s largest foodgrain storage program” in the cooperative sector, the proposed scheme will involve the establishment of a 2,000-tonne capacity godown in each block.
The objective of this initiative is to mitigate damage to food grains caused by insufficient storage facilities, prevent distress sales by farmers, reduce dependence on imports, and generate employment opportunities in rural areas.
The Information and Broadcasting Minister, Anurag Singh Thakur, highlighted that increased storage capacity will lead to reduced transportation costs for farmers and strengthen food security.
Despite India’s annual foodgrain production of around 3,100 lakh tonnes, the existing godowns can only accommodate up to 47 percent of the total produce.
