Government Allocates Rs 6.5 Lakh Crore Annually For Agriculture And Farmers' Welfare: PM

Prime Minister Narendra Modi revealed that the government is spending a substantial amount of Rs 6.5 lakh crore annually on agriculture and farmers' welfare, PTI reported.

The prime minister discussed his administration's accomplishments since taking office in 2014 while speaking at a celebration of the International Day of Cooperatives. He specifically mentioned the PM Kisan programme, MSP operations, and fertiliser subsidies. According to Modi, around Rs 15 lakh crore have been handed to farmers over the past nine years by purchasing their crops at the MSP.

He said that the government spent Rs 10 lakh crore on fertiliser subsidies in the previous year. The prime minister stated that the government invests over Rs 6.5 lakh crore in agriculture and farmers each year. This indicates that each farmer receives an average of Rs 50,000 from the government each year in some kind.

"That is, in the BJP government, farmers are guaranteed to get Rs 50,000 every year in different ways. This is Modi's guarantee," he said, adding that he wasn't simply talking about "promises" but rather what his administration has actually accomplished. According to the prime minister, the PM KISAN programme has directly deposited Rs 2.5 lakh crore into farmers' bank accounts over the last four years.

"You can guess how big this amount is from the fact that the total agricultural budget for the five years before 2014 was less than Rs 90,000 crore," Modi said. He was speaking at the 17th Indian Cooperative Congress.

The stakeholders will examine various cooperative movement trends over the course of the two-day event, highlight best practices being used, deliberate problems being faced, and plan future policy actions for expansion of India's cooperative movement.