CURRENT AFFAIRS

Detailed explanation-1: -The Union Budget has announced Rs 2,516 crore for computerisation of 63,000 Primary Agricultural Credit Societies (PACS) over the next five years, with the aim of bringing greater transparency and accountability in their operations and enabling them to diversify their business and undertake more activities.

Detailed explanation-2: -UPSC Mains Q. What is the budgetary outlay of ‘Computerisation of Primary Agricultural Credit Societies (PACS)? Notes: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved computerisation of Primary Agricultural Credit Societies (PACS) with a budgetary outlay of ₹2,516 crore.

Detailed explanation-3: -The Centre on Wednesday decided to computerise all functional 63,000 Primary Agriculture Credit Societies (PACS) over the next five years with a budget outlay of Rs 2,516 crore in order to improve efficiency, transparency and accountability in their operations.

Detailed explanation-4: -Centralized PACS Solution. Centralized PACS Solution (CPS) is an effective software solution that covers the complete day-to-day functionality of the primary agriculture credit societies (PACS) through a centralized architecture.

Detailed explanation-5: -It will also lead to digitisation of existing records. “Cabinet has approved computerisation of Primary Agriculture Credit Societies (PACS). 63,000 functional PACS will be computerised with overall budget of Rs 2,516 crore. It’ll improve their functioning and bring transparency,” said Thakur.