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AGRICULTURE

FICCI lauds Modi for extending PM Kisan Scheme benefits to all farmers
Monday, 03 June, 2019, 13 : 00 PM [IST]
Our Bureau, New Delhi
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FICCI (the Federation of Indian Chambers of Commerce and Industry of India) congratulated Prime Minister Narendra Modi for extending the benefits under the Pradhan Mantri Kisan Samman Siddhi (PMKSS) to all the farming households in the country, and for a new pension scheme for five crore farmers, as one of the first decisions of his new administration.
 
With agriculture as top priority, FICCI has been advocating the extension of the PM Kisan Scheme to all farmers in its 100-day agenda to the government.
 
The government had announced PMKSS in the interim Budget to provide Rs 6,000 per year to about 12.5 crore small farmers holding up to two hectare of land. The revised scheme will now cover two crore more farmers, increasing the coverage to around 14.5 crore beneficiaries.
 
FICCI believed that Indian agriculture is yet to realise its full potential, and welcome the government's resolve to address challenges in the sector in a comprehensive manner.
 
Direct income transfer is recognised as one of the most effective ways of targeting support to the farm sector.

FICCI supports a gradual shift from loosely-targeted input subsidies to direct benefit transfer to enable farmers to make choices in expenditure based on local priorities and exigencies.
 
Sandip Somany, president, FICCI, said, “We urge the prime minister to follow up this excellent decision with further reform measures in a time-bound manner to kick-start a virtuous cycle of growth and value addition in the agriculture sector.”
 
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