Agriculture loans for farmers hiked 2.5 times in 7 years, says PM Modi

PM Modi lauding the contributions made towards the agricultural sector while addressing a webinar on the topic 'Smart Agriculture' said that agri loans for farmers were hiked 2.5 times in 7 years. He also stated that his aim is to provide regular bank facilities in over 1.5 lakh post offices, for farmers' ease, while adding that the last one is to bring a change in the syllabus of agri-research & education for contemporary skill and human-resource development.

New Delhi: Prime Minister Narendra Modi, on Thursday, lauded the contributions made towards the agricultural sector while addressing a webinar on the topic 'Smart Agriculture'. He said that agricultural loans for farmers have been increased by 2.5 times in the last seven years, adding that PM Kisan Samman Nidhi scheme has become a strong support for the small farmers in the country.

"PM-KISAN Samman Nidhi scheme was started three years ago on this day itself. Today this scheme has become big support for the small farmers. Under this, about Rs two lakh crore has been given to 11 crore farmers so far," said the Prime Minister while addressing a webinar on various ways the Budget strengthens the agriculture sector.

The Prime Minister added, "In the last seven years, we have taken many new initiatives. From taking seeds to market, we have improved the old systems. Budget for agriculture has increased manifold in just seven years. Agriculture loans for farmers have also been increased by 2.5 times in seven years."

He further said the next goal is to prepare a new logistic facility under PM Gati Shakti for the transportation of farming-related produce. Another solution is to organize agri-waste management better & increase farmers' income by solutions of waste energy.

The PM also added that his aim is to provide regular bank facilities in over 1.5 lakh post offices, for farmers' ease, while adding that the last one is to bring a change in the syllabus of agri-research & education for contemporary skill & human-resource development.

Under the PM-KISAN scheme, a financial benefit of Rs 6000 per year is provided to the eligible beneficiary farmers, payable in three equal instalments of Rs 2000 each. The fund is transferred directly to the bank accounts of the beneficiaries.