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Modi: Indian economy looking better than pre-Covid days on many parameters

Prime Minister Narendra Modi
Prime Minister Narendra Modi releasing the 10th installment under PM Kisan Samman Nidhi scheme through videoconference in New Delhi on January 1, 2022. Photo: PIB

New Delhi, Jan 1 (MNN) Prime Minister Narendra Modi on Saturday said that the Indian economy is looking better than pre-Covid days on many parameters.

“Today, the growth rate is more than 8 per cent. Record foreign investment has come to India. Our forex reserves have reached record levels. Old records have also been surpassed in GST collection. We have also set new records in the matter of exports, especially in agriculture,” he said while releasing through videoconference the 10th instalment to beneficiary farmers under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.

More than Rs 20,000 crore would go to more than 10 crore farmer families under the scheme.

He said that in 2021, transection of more than Rs 70 lakh crore was done through the UPI. More than 50,000 start-ups are working in India, of which 10,000 came up during the last six months, the PM added.

The Prime Minister also released via videoconference an equity grant of more than Rs 14 crore to about 351 Farmer Producer Organisations (FPOs), which will benefit more than 1.24 lakh farmers. Modi also interacted with FPOs during the event.

Union Minister Narendra Singh Tomar and Chief Ministers, Lt Governors, state Agriculture Ministers and farmers from several states were linked to the event.

Modi said that PM Kisan Samman Nidhi is a big support for India’s farmers. “If we include today’s transfer, more than Rs 1.80 lakh crore have been transferred directly to their accounts,” he said.

The Prime Minister said that small farmers feel the power of collective strength through FPOs, pointing out to benefits like increased bargaining power, scale, innovation, risk management and adaptability to market conditions.

These FPOs are getting help of up to Rs 15 lakh. “Today, our farmers are benefitting from schemes like ‘One District One Products’ and markets, with both national and global markets opening for them,” Modi said.

He said that reliance on imports is being reduced through schemes like National Palm Oil Mission with a budget of Rs 11,000 crore.

The Prime Minister said that food grain production in India had touched 300 million tonnes and horticulture and floriculture production 330 million tonnes.

“Milk production has also increased by almost 45 per cent in the last 6-7 years. About 60 lakh hectare land was brought under micro irrigation and more than Rs 1 lakh crore given in compensation under the Prime Minister Fasal Bima Yojana, as against a premium of just Rs 21,000 crore. Ethanol production has increased from 40 crore litres to 340 crore litres in just seven years.”

Interacting with FPO from Uttarakhand, the Prime Minister inquired about their choice of organic farming and ways to certification of organic products.

He also talked about marketing of organic products by the FPOs, whose officials informed him on how they arranged organic fertilisers.

Prime Minister Narendra Modi also said that his government endeavoured promotion of natural and organic farming to reduce reliance on chemical fertilisers and improve income of farmers.

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