Modi 3.0: FMCG firms should applaud the recently formed coalition government
After taking office for a third term, Prime Minister Narendra Modi made a symbolic first gesture by distributing the 17th installment of PM-KISAN, which will help 9.3 crore farmers financially. If the mandate were weaker
Following his oath of office as prime minister for the third time in a row, Narendra Modi released the 17th payment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) initiative as a symbolic move. Every four months, Uncer PM-KISAN farmers receive three equal installments of ₹2,000 directly into their bank accounts.
The distribution of over Rs 20,000 crore for 9.3 crore farmers is up to interpretation. Given its lackluster performance in the Lok Sabha elections and inability to secure a majority, the ruling BJP will probably be compelled to allocate more resources to the rural sector, including increased expenditure on welfare and other initiatives.
When introducing the latest installment of PM-KISAN, Prime Minister Modi stated as much: "Our government is fully committed to kisan kalyan." Thus, it makes sense that the first file to be signed after assuming leadership concerns farmer welfare. In the future, we hope to continue serving farmers and the agriculture industry even more."
A diminished mandate for the BJP, which currently controls an NDA government supported by allies, may cause the government to refocus its growth priorities on welfare and implement programs designed to increase consumption among rural areas' lower-income populations. This is particularly likely as the BJP gets ready to contest elections in Maharashtra, Haryana, and Jharkhand this year.
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