Prime Minister Narendra Modi’s Third Term: Key Initiatives for Farmers and Middle Class
After taking office for a third consecutive term on June 9, Prime Minister Narendra Modi has implemented several key initiatives in the first 100 days aimed at improving the livelihoods of farmers and the middle class.
Support for Farmers
One of the first actions was the release of the 17th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, distributing Rs 20,000 crore among 9.3 crore farmers. The total disbursement under this scheme has reached Rs 3 lakh crore, benefiting 12 crore 33 lakh farmers.
The Minimum Support Price (MSP) for Kharif crops for 2024-25 has been increased, benefiting farmers by approximately Rs 2 lakh crore. The government has also approved the Polavaram Irrigation Project in Andhra Pradesh with an allocation of Rs 12,100 crore.
Additionally, seven major schemes with a total outlay of Rs 14,200 crore, including the Digital Agriculture Mission, have been approved to enhance agricultural efficiency and productivity. The draft policy of the new National Cooperative Policy is in its final stages.
Under a MoU between the National Cooperative Organics Limited (NCOL) and the Uttarakhand Organic Commodity Board, NCOL will purchase organic produce from Uttarakhand’s farmers, with profits directly deposited into farmers’ accounts. The conversion of cooperative sugar mills’ ethanol production units into multi-feed facilities will enable ethanol production from maize.
The government has removed the Minimum Export Price (MEP) on onions and basmati rice and reduced the export duty on onions from 40% to 20%, benefiting farmers. Several agricultural schemes and development projects worth Rs 3,300 crore have been initiated in Jammu and Kashmir.
During his visit to Varanasi in June, PM Modi honored 30,000 ‘Krishi Sakhis’ from self-help groups for their role in agriculture. The Centre has approved Rs 2,000 crore for ‘Mission Mausam’ to create a weather- and climate-resilient India and launched the ‘Agrisure’ fund to support agricultural start-ups and rural enterprises.
Support for the Middle Class
To uplift the middle class, the government has provided tax relief, with no tax on income up to Rs 7 lakh. Salaried individuals can save up to Rs 17,500 in taxes, with the standard deduction increased to Rs 75,000 and the exemption limit for family pension raised to Rs 25,000. A comprehensive review of income tax rules will be conducted within six months.
The Unified Pension Scheme (UPS) has been implemented, providing government employees with 25 years of service 50% of their average basic salary as a pension. The third iteration of the One Rank, One Pension scheme will be implemented for security forces and their families.
Under the Pradhan Mantri Awas Yojana, one crore houses have been built in urban areas, and two crore houses have been approved for construction in rural areas. The PM Surya Ghar Muft Bijli Yojana has installed solar energy systems in over 2.5 lakh homes between June and August 2024. The PM E-Bus service will develop an environmentally friendly public transport system, with approval for the purchase of e-buses with assistance of Rs 3,400 crore.
Doubts Revealed
Prime Minister Narendra Modi -: He is the leader of India and has been elected to serve as the Prime Minister for the third time.
Third Term -: This means that Narendra Modi has been chosen by the people to be the Prime Minister three times.
Initiatives -: These are new plans or actions taken to solve problems or improve situations.
Farmers -: People who grow crops and raise animals for food.
Middle Class -: People who are neither very rich nor very poor, often working in jobs like teaching, office work, or running small businesses.
PM-KISAN scheme -: A government program that gives money to farmers to help them with their expenses.
Rs 20,000 crore -: A very large amount of money, where 1 crore equals 10 million rupees.
MSP -: Minimum Support Price, which is the lowest price the government promises to pay farmers for their crops.
Kharif crops -: Crops that are planted during the rainy season, like rice and maize.
Polavaram Irrigation Project -: A big project to build a dam and canals to help farmers get water for their fields.
Tax relief measures -: Actions taken by the government to reduce the amount of money people have to pay in taxes.
Unified Pension Scheme -: A plan to give people regular payments after they retire from work.
PM E-Bus service -: A new service to provide electric buses for public transportation, which are better for the environment.
Livelihoods -: The ways people earn money to live and support their families.
Agricultural sector -: The part of the economy that involves farming and growing food.
