“Union Budget Gives Strong Push to Agriculture and Rural Economy,” Says Prime Minister
BuzzBytes
New Delhi, March 6:
Prime Minister Narendra Modi on Thursday said that the Union Budget 2026–27 has given a strong push to agriculture and rural transformation, while urging stakeholders to ensure effective implementation of the budget provisions to strengthen India’s farming sector and rural economy.
Addressing a Post Budget Webinar on Agriculture and Rural Transformation, the Prime Minister said agriculture continues to remain the backbone of the Indian economy and a strategic pillar for the country’s long-term development.
“This year’s Union Budget gives a strong push to agriculture and rural transformation,” the Prime Minister said, adding that discussions in the webinar would help ensure that the benefits of the budget reach the grassroots level.
Highlighting major government initiatives for farmers, Modi referred to schemes such as Pradhan Mantri Kisan Samman Nidhi and Pradhan Mantri Fasal Bima Yojana, saying they have significantly strengthened economic security for farmers.
“Over 10 crore farmers have received more than ₹4 lakh crore under PM Kisan Samman Nidhi, while nearly ₹2 lakh crore in insurance claims have been settled under PM Fasal Bima Yojana,” he said.
The Prime Minister also noted that institutional credit coverage for farmers has crossed 75 percent, helping reduce risks and strengthen the rural economy.
Referring to record food grain and pulse production, Modi said the agriculture sector must now focus on becoming export-oriented to meet the changing global demand.
“In this webinar it is important to have detailed discussions on making Indian agriculture export-oriented,” he said, urging participants to utilise India’s diverse climatic conditions to increase productivity and strengthen agricultural exports.
The Prime Minister highlighted the need to promote high-value crops and region-specific agricultural production. He pointed to budget proposals encouraging crops such as cocoa, cashew and sandalwood, along with the promotion of agarwood in the North-East and temperate nut crops in Himalayan states.
“If we scale high-value agriculture together, it will transform agriculture into a globally competitive sector,” he said.
Modi also highlighted the potential of the fisheries sector, noting that India is currently the world’s second-largest fish producer.
“While around 4.5 lakh tonnes of fish are currently produced in reservoirs and ponds, there is potential to increase this by another 20 lakh tonnes. Fisheries can become a major platform for export growth,” he said.
The Prime Minister stressed the need for new business models in hatcheries, fish feed and logistics to unlock the potential of the Blue Economy and boost rural incomes.
Speaking about the livestock sector, Modi said India is the world’s largest milk producer and the second-largest producer of eggs. He stressed the importance of scientific breeding, disease prevention and livestock health management.
“When I speak of ‘One Earth, One Health’, it also includes the health of livestock,” he said.
The Prime Minister noted that more than 125 crore vaccine doses have been administered to animals to protect them from foot and mouth disease, while initiatives under the National Gokul Mission are expanding the use of modern technologies in animal husbandry.
Modi also emphasised the need for crop diversification to reduce risks for farmers.
“We are focusing on crop diversification through missions related to edible oils, pulses and natural farming,” he said.
Highlighting the role of technology in agriculture, the Prime Minister said digital tools such as e-NAM, digital land surveys and Kisan IDs are transforming the sector.
“Technology delivers results only when systems adopt it, institutions integrate it and entrepreneurs build innovations on it,” he said.
He also stressed that since agriculture is a state subject, state governments must strengthen district-level implementation of budget provisions to maximise benefits for farmers.
Reaffirming the government’s commitment to rural prosperity, the Prime Minister highlighted initiatives such as Pradhan Mantri Awas Yojana and Pradhan Mantri Gram Sadak Yojana, which are transforming rural infrastructure.
Modi also referred to the success of the Lakhpati Didi Scheme, stating that the government has set a target to create three crore more women entrepreneurs under the programme by 2029.
“Our government is committed to building rural prosperity,” the Prime Minister said, adding that innovation in agri-fintech, supply chains and storage infrastructure will play a critical role in strengthening the rural economy.
Concluding his address, Modi expressed confidence that the deliberations in the webinar would generate valuable ideas for accelerating agricultural reforms.
“I am confident that the outcomes of your discussions today will provide new energy to India’s rural economy,” the Prime Minister said.
