NEW DELHI: On Saturday, Prime Minister Narendra Modi on Saturday emphasized the significance of digital payments in bringing transparency and urged people to minimize cash transactions whenever possible.

During his address at the 17th Indian Co-operative Congress, the Prime Minister urged everyone to embrace digital transactions as a means to foster transparency. He highlighted the growing recognition of India as a hub for digital payments. Furthermore, he mentioned that the Central government allocates over Rs 6 lakh crore annually towards agriculture and farmers' welfare.

This implies that, on average, each farmer receives approximately Rs 50,000 from the government in various forms every year. In other words, under the BJP government, there is a guaranteed annual sum of Rs 50,000 for farmers through different channels," he said. The Prime Minister also highlighted the direct transfer of around Rs 2.5 lakh crore to farmers' accounts across the nation by his government.

Moreover, he drew attention to the fact that his government provides urea fertilizer bags at Rs 270, while these bags are being sold at significantly higher prices in Bangladesh (Rs 720), Pakistan (Rs 800), China (Rs 2,100), and some other locations (Rs 3,100). He further emphasized that fertilizer subsidies have been increased to over Rs 10 lakh crore, affirming that the government is committed to serving farmers free from nepotism and corruption, ultimately benefiting them.  "In the past nine years, farmers have received over Rs 15 lakh crore through the procurement of their produce at the Minimum Support Price (MSP). In other words, the government allocates approximately Rs 6.5 lakh crore per year towards agriculture and farmers," he added. 

Modi announced a comprehensive package of Rs 3.7 trillion for farmers, highlighting the establishment of a profitable price of Rs 315 per quintal for sugarcane farmers.  "Our existing storage capacity in the country stands at over 1,400 lakh tonnes. Over the next five years, our goal is to create approximately 700 lakh tonnes of additional storage capacity. Undoubtedly, this is a significant endeavor that will enhance the capabilities of our farmers and generate new employment opportunities in rural areas."  He also informed the audience about the launch of the Mission Palm Oil initiative by the Central government to promote oil palm cultivation.

During his speech, Union Home Minister Amit Shah acknowledged the transformative changes brought about by Modi in the cooperative movement.

"Our country's cooperative movement has a rich history of approximately 115 years. The demand for a separate Cooperative Ministry had been pending for 75 years. When Modi assumed the role of Prime Minister for the second time, he established an autonomous Cooperative Ministry. This independent Ministry has made numerous positive changes possible in the Ministry of Cooperation and the cooperative sector," Shah said.

He further mentioned that the Prime Minister and the Finance Minister resolved a tax dispute worth Rs15,000 crore related to Sugar Mills and implemented measures to prevent the recurrence of such disputes in the future.

Continuing on the topic, Prime Minister Modi expressed his commitment to the growth and development of the cooperative sector, emphasizing its vital role in India's progress. "The cooperative movement has been a cornerstone of our nation for the past 115 years. It is with great satisfaction that I announce the establishment of a dedicated Ministry of Cooperation, a long-awaited demand that has now been fulfilled," stated Prime Minister Modi.

He further explained that with the autonomy of the Cooperative Ministry, significant advancements and reforms have become possible, both within the ministry itself and across the cooperative sector.

The Prime Minister's efforts to streamline and strengthen cooperatives were applauded by Union Home Minister Amit Shah, who acknowledged the profound impact of these changes.