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The Union Cabinet today approved a ₹ 1 lakh crore programme to create the world's largest grain storage capacity in the cooperative sector to reduce crop damages and prevent distress sales by farmers, besides strengthening the country's food security.The government is planning to create 700 lakh tonne of grain storage capacity in the cooperative sector over the next five years and said the move
The government's step comes in the wake of India currently having a storage capacity of 1450 lakh tonnes which allows storage of only 47 per cent of its grains produced in the country.
The proposals to set up the storage capacity and the inter-Ministerial Committee were approved by the Union Cabinet chaired by Prime Minister Narendra Modi.
New Delhi, May 31: In order to ensure time-bound and uniform implementation of the World's Largest Grain Storage Plan in Cooperative Sector the Ministry of Cooperation will implement a pilot project in at least 10 selected districts of different states and Union Territories in the country, an official statement said on Wednesday.