Over the past 9 years, Prime Minister Narendra Modi announced that farmers have received over ₹15 lakh crore through the procurement of their produce at Minimum Support Price (MSP). Additionally, the government allocated ₹10 lakh crore towards fertilizer subsidies in the previous year.
During an event celebrating the International Day of Cooperatives, PM Modi emphasized that his government is committed to investing ₹6.5 lakh crore annually in the agriculture sector and farmers' welfare. He urged cooperatives to contribute to the nation's self-reliance in cooking oils.
Furthermore, PM Modi highlighted the achievements of his government, including initiatives such as the PM Kisan scheme, MSP operations, and fertilizer subsidies, which have been implemented since assuming power in 2014.
According to PM Modi, over the past 9 years, farmers have received more than ₹15 lakh crore through the procurement of their produce at Minimum Support Price (MSP), and the government has allocated ₹10 lakh crore for fertilizer subsidies in the previous year.
In essence, the Prime Minister highlighted that the government is presently dedicating approximately ₹6.5 lakh crore annually towards agriculture and farmers. He further explained that this implies an average of ₹50,000 being provided to each farmer every year, through various means.
PM Modi emphasized that the BJP government ensures a guaranteed sum of ₹50,000 per year to farmers in different ways, and he clarified that he is presenting the concrete actions taken by his government rather than merely making promises.
The Prime Minister mentioned that in the last 4 years, a substantial amount of ₹2.5 lakh crore has been directly transferred to farmers' bank accounts through the PM KISAN scheme.
To put this into perspective, PM Modi emphasized that the total agricultural budget for the five years preceding 2014 was less than ₹90,000 crore, highlighting the significant increase in support for farmers.
He made these remarks during his address at the 17th Indian Cooperative Congress, a two-day event where stakeholders will discuss various trends in the cooperative movement, showcase best practices, address challenges, and plan future policy actions to promote the growth of India's cooperative movement.
