PM Modi addresses a public meeting in Madhya Pradesh’s Barwani

India's agriculture sector employs a significant portion of the population and forms the backbone of the rural economy and food security. Agriculture is considered the primary sector as it provides livelihood support to about 42.3 percent of the population and has a share of 18.2 percent in the country’s GDP at current prices. Despite its greater composition, the interests of our Annadatas were compromised for many decades. Due to the absence of formal credit and adequate market access, their incomes were also compromised.

From Stagnation to Surge: A Decade of Remarkable Income Growth
A positive shift is witnessed due to targeted measures of the current government under the leadership of Prime Minister Narendra Modi. A recent report by NITI Aayog revealed that India’s agricultural income did not experience any negative growth from 2015–16 to 2024–25. In addition, during 2014–15 to 2023–24, the income of agricultural producers grew at 10.11 percent annually, higher than that of manufacturing and total economy. The income of farmers too increased by 126 percent in ten years, while producers’ income rose by 108 percent between 2015–16 and 2022–23, surpassing the doubling target in nominal terms over the decade.

Shielding Annadatas: Risk Reduction for Stable Incomes
This transformation is powered by the multipronged strategy of the current government. The first pillar of this strategy is to reduce risk and shield farmers from uncertainty. For decades, agriculture in India has remained highly vulnerable to erratic monsoons, pests, diseases, hailstorms, floods, and droughts. Reducing these risks has been a priority to prevent income shocks and encourage investment in modern practices. Initiatives such as Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, provide comprehensive crop insurance. It stabilises farmers' incomes, encourages the adoption of innovative practices, and ensures the flow of credit. Under this initiative, more than 92 crore applications have been insured since inception. In addition, other complementary measures include soil health management via the Soil Health Card (SHC) Scheme. Nearly 26 crore such cards have been distributed, providing farmers with nutrient status and customised fertiliser recommendations. This lowers costs, improves yields, and mitigates the risk of soil degradation.
Additionally, the government also introduced other risk-mitigation tools, including promotion of micro-irrigation under Per Drop More Crop, climate-resilient seed varieties and initiatives like PM-KUSUM for solar pumps, reducing dependence on diesel and enabling income from excess power generation. More than 21 lakh farmers have already benefited through PM-KUSUM.
Similarly, Namo Drone Didi initiative also empowers women in rural India by equipping them with drones for agricultural rental services, which targets to generate an additional income of at least Rs.1 lakh per year for each participating SHG. These efforts collectively lower production risks, particularly for small and marginal farmers who constitute the majority.
Direct Income Boost
The second pillar is providing direct income support to our farmers. To supplement farm earnings and address immediate cash needs, the government introduced Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). Under this, Rs. 6,000 annually is given to eligible landholding farmer families via DBT, ensuring transparency. It is supporting over 11 crore farmer families and Rs. 4.28 lakh crore disbursed under PM-KISAN since inception. It serves as a predictable income support for agricultural inputs, domestic needs, or allied activities, cushioning against market volatility or crop failures. The scheme aligns with the broader goal of treating farming as a viable enterprise rather than mere subsistence.
Beyond immediate income support, the government is also ensuring farmers' social security through the Pradhan Mantri Kisan Maan-Dhan Yojana (PMKMY). This voluntary and contributory pension scheme, with monthly contributions ranging from Rs. 55 to Rs. 200, will ensure a minimum monthly assured pension of Rs. 3000 upon attaining the age of 60 years. Nearly 25 lakh farmers have been enrolled under PMKMY.
Additional direct benefits flow from diversifying into animal husbandry, fisheries, and beekeeping, promoted through dedicated schemes. As a result, India became the 2nd largest fish producer globally. Similarly, honey and egg production have doubled since 2014.

Assured Returns: MSP, Procurement & Market Reforms

A key pillar for realizing better returns is the Minimum Support Price (MSP) mechanism. The current government has consistently increased MSP for 22 crops to provide financial support to farmers. Notable hikes include significant increases for wheat, paddy, pulses, oilseeds, and millets. For instance, MSP for wheat increased from Rs. 1400 per quintal in 2014-15 to Rs. 2585 per quintal in 2026-27, showcasing an increase of 84.28 percent (approx.).
For the same period, the MSP for Masur (Lentil) increased by more than 127 percent. Similarly, the MSP for paddy rose from Rs. 1360 per quintal in 2014-15 to Rs. 2369 per quintal in 2025-26, marking over 74 per cent increase. Along with price, the procurement volumes have risen substantially. Total procurement increased from 6,987 LMT during 2004–14 to 12,292 LMT in 2014–26, marking nearly 76 percent rise. Higher MSP, combined with expanded procurement, has increased direct income into rural economies and incentivised farmers.
Additionally, market reforms like eNAM have integrated over 1,600 mandis, enabling transparent online trading, better price discovery, and reduced intermediaries. Similarly, formation of Farmer Producer Organizations (FPOs) helps small farmers get better prices and market access and achieve high turnovers.

Unlocking Credit & Sustainability: Formal Finance Powering Farmer Growth

The last but most important pillar is bringing farmers into the formal credit system. Lack of timely, affordable credit has long pushed farmers toward high-interest moneylenders. Since 2014, the government has strengthened formal credit through the Kisan Credit Card (KCC) scheme, revamped and expanded. Currently, over 7 crore KCCs are active nationwide, with outstanding loans of about Rs. 10.2 lakh crore. Additionally, ground-level agriculture credit targets have been scaled up. The Ground Level Credit (GLC) target for agriculture increased from Rs 7.30 lakh crore in 2013-2014 to Rs 28.67 lakh crore in 2024-2025. This has enabled farmers to invest in quality seeds, fertilisers, and machinery while reducing debt traps.
Complementing this, the Modi government also promotes natural farming and organic practices for sustainability, along with post-harvest support, which has further multiplied income flows. Budgetary support for agriculture has increased manifold, as the allocation for the Department of Agriculture & Farmer Welfare has surged from Rs. 27,663 crore in 2013-14 to Rs. 1.40 lakh crore in 2026-27, marking a remarkable 408% increase.
As India marches ahead with the Viksit Bharat vision, a prosperous and empowered farming community will remain central to this aspiration. The multi-pronged strategy adopted by the Modi government has laid a strong, resilient foundation for our Annadatas. The government's continued efforts not only doubled farmers’ incomes but also led them to adopt sustainable practices combined with modern agricultural technology.