In the first 100 days of his third consecutive term, Prime Minister Narendra Modi’s government has rolled out several initiatives to improve farmers’ livelihoods and provide relief to the middle class. Since sworn in on June 9, the Modi 3.0 administration has implemented policies focusing on agriculture, tax relief, and infrastructure development.
Support for Farmers:
One of the government’s initial moves was releasing the 17th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. According to official sources, Rs 20,000 crore has been distributed to 9.3 crore farmers under the scheme, bringing the total disbursement to Rs 3 lakh crore for 12.33 crore farmers since its inception.
The Minimum Support Price (MSP) for Kharif crops for the 2024-25 season has been increased, benefiting farmers by approximately Rs 2 lakh crore. Additionally, the government approved the Polavaram Irrigation Project in Andhra Pradesh, allocating Rs 12,100 crore for its completion.
Seven major schemes with a combined outlay of Rs 14,200 crore have been approved to further enhance agricultural productivity, including the Digital Agriculture Mission. The government has also drafted a new National Cooperative Policy, which is now in its final stages of preparation.
Under a Memorandum of Understanding (MoU) between the National Cooperative Organics Limited (NCOL) and the Uttarakhand Organic Commodity Board, organic produce from Uttarakhand farmers will be purchased at competitive rates, with profits being directly deposited into farmers’ accounts. Additionally, the conversion of cooperative sugar mills’ ethanol production units into multi-feed facilities will allow for ethanol production from maize.
Export restrictions on onions and basmati rice have been eased, with the government removing the Minimum Export Price (MEP) on both and reducing the export duty on onions from 40% to 20%, which is expected to benefit farmers.
In Jammu and Kashmir, agricultural schemes and development projects worth Rs 3,300 crore have been initiated. Prime Minister Modi also recognized the efforts of 30,000 ‘Krishi Sakhis’—women from self-help groups working in agriculture—during a visit to Varanasi in June.
To prepare for climate challenges, the government launched the Rs 2,000 crore “Mission Mausam” initiative, aimed at creating a weather- and climate-resilient India. Additionally, a new fund called ‘Agrisure’ was established to support start-ups and rural enterprises in the agricultural sector.
Tax Relief for the Middle Class:
For the middle class, the Modi government has implemented significant tax relief measures. Income up to Rs 7 lakh is now tax-free, allowing salaried individuals to save up to Rs 17,500 in taxes. The standard deduction has been increased to Rs 75,000, while the exemption limit for family pensions has been raised to Rs 25,000.
The government is also conducting a comprehensive review of income tax rules to simplify and clarify them, to complete this within six months.
Pension and Housing Schemes:
The Unified Pension Scheme (UPS) has been introduced, 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 also be implemented, benefiting security forces and their families.
In housing, the government has made significant progress under the Pradhan Mantri Awas Yojana (PMAY). One crore houses have been built in urban areas, and two crore homes have been approved for construction in rural regions.
Green Initiatives:
Under the PM Surya Ghar Muft Bijli Yojana, solar energy systems have been installed in over 2.5 lakh homes between June and August 2024. Additionally, the government has approved a Rs 3,400 crore scheme to develop an environmentally friendly public transport system, including the purchase of e-buses under the PM E-Bus service initiative.
These decisions reflect the Modi 3.0 government’s focus on strengthening India’s agricultural sector, supporting the middle class, and promoting sustainable development.
