The Prime Minister, Mr. Narendra Modi addressing at the launch of the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana, in New Delhi on April 08, 2015. The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Mr. Arun Jaitley, the Governor of Reserve Bank of India, Mr. Raghuram Rajan and the Secretary, Department of Financial Services (DFS), Ministry of Finance, Dr. Hasmukh Adhia are also seen.
Input Subsidy to distressed farmers
New Delhi (PIB-GR-TYP-BIN): The Prime Minister, Mr. Narendra Modi, made two major announcements aimed at providing relief to farmers in distress. The Prime Minister made these announcments in his address during the launch of the Pradhan Mantri MUDRA Yojana on April 8.
The Prime Minister expressed concern over the problems faced by farmers due to abnormal weather over the past year. He said that helping the farmer in this time of distress is our responsibility, and therefore, the Government had sent teams of Central Ministers to affected areas, to assess the extent of damage. He said the Union and State Governments, the banks and insurance companies would all do their utmost to provide relief to the farmers.
Announcing a landmark change in norms for input subsidy, the Prime Minister said farmers will now be eligible for input subsidy if 33 percent of their crop has been damaged, as opposed to 50 percent or more, which was the norm till now.
In another major announcement, the Prime Minister said that the input subsidy given to distressed farmers will be enhanced by 50 percent of the existing amounts. He said this was a major departure from the incremental changes in input subsidy that had been made hitherto.
(Source: PIB/GR/TYP/BIN/USPA/WN)