Farmers' income in India has surged by 138% during PM Modi's 10-year tenure, Niti Aayog's Ramesh Chand said. He added that the agriculture sector has hit its highest-ever 10-year growth rate, surpassing even China's.
The income of farmers in India has increased by 138 per cent which is more than double during the last 10 year tenure of Prime Minister Narendra Modi, while the agriculture sector has recorded its highest-ever 10-year growth rate since Independence, said Ramesh Chand, Niti Aayog Member in an exclusive interview with ANI.
Chand, who is also the former Director and Principal Economist at the National Centre for Agricultural Economics and Policy Research, said that Indian agriculture and allied sectors registered an average annual growth rate of 4.45 per cent between 2015 and 2026. "This is historically the highest growth rate. You take any 10 years before 2015, Indian agriculture never achieved 4.4 per cent growth over a continuous period of 10 years," he said.
According to Chand, the slogan of doubling farmers' income announced by Prime Minister Narendra Modi in 2016-17 achieved significant results within a few years. "I have prepared estimates that if you look at income of the farmer in seven years after that, when India attained 75 years of Independence, that is between 2016 and 2022, the income of farmers in India had doubled," he said. "During the entire tenure of PM Modi, the income of farmers has increased 38 per cent more than doubling of income. That is, it has increased by 138 per cent," he added.
MSP Revision a 'Game Changer' for Farmer Income
Chand said that one of the biggest policy changes came in 2018 when the government introduced a new Minimum Support Price (MSP) formula. He termed it "the biggest single step in improvement in farmers' income in the history of agriculture."
Under the revised formula, farmers were assured MSP at least 50 per cent higher than the paid-out cost and the value of family labour involved in farming. According to him, higher MSP support and expansion of procurement to more crops and farmers incentivised production, technology adoption and productivity improvements.
India's Agricultural Growth Surpasses China
He further said India's agriculture growth rate is currently among the highest globally among major agricultural economies producing more than 1 per cent of global agricultural output. "Few years back China was at the top. In the previous decade China was at the top. Now we have left China behind. Our growth rate is globally highest," Chand said.
Speaking about Prime Minister Modi being conferred the Agricola Medal for 2026 by the Food and Agriculture Organization at its headquarters in Rome, Chand said the recognition reflected India's achievements in agriculture, food security and poverty reduction. Prime Minister Narendra Modi on Wednesday received the prestigious Agricola Medal for 2026 at the FAO headquarters and dedicated the honour to Indian farmers and the agricultural scientific community.
Impact of Government Schemes and Initiatives
Chand said several government schemes, including PM-Kisan and free foodgrain distribution programmes, had contributed positively to agricultural productivity, food security and farmer welfare. "When we are giving PM-Kisan instalments to farmers, studies show farmers use that money for investment in agriculture, for purchase of inputs, fertiliser and seed. It contributes to productivity and production," he said.
Promoting Millets and Sustainability
He also highlighted India's role in promoting millets globally. Chand noted that at India's initiative, in 2023 was recognised by FAO as the International Year of Millets. He said millet promotion programmes and awareness campaigns helped increase consumer acceptance of millet-based products while also supporting climate-resilient farming practices.
Chand further said India has also taken several initiatives related to climate-resilient agriculture, sustainability missions and promotion of solar energy under the International Solar Alliance. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)