India’s Economic Growth Rate Over 8%, Foreign Investment at Record High: PM

On Saturday, speaking at the release of the 10th instalment of financial benefit under PM-KISAN, Prime Minister Mr Narendra Modi stated that the country’s economic growth rate is over 8%.

“Our economy is currently growing at a rate of more than 8%. India has received unprecedented foreign investment. In the GST collection, old records have also been broken. We have also established new paradigms in terms of exports, particularly agricultural,” PM Modi stated.

In the year 2022 when India celebrates 75 years of independence, Prime Minister Modi stated that it is time to go on a “new lively journey” of the country’s resolves.

“Today, as we begin the new year, we must go forward with new resolutions, drawing inspiration from our previous year’s achievements. This year marks the 75th anniversary of our freedom. This is the moment to embark on a new and exciting chapter in the country’s resolves, to move forward with fresh zeal,” he added.

During the ceremony, the Prime Minister also announced a Rs. 14 crore (US$ 1.88 million) equity award to 351 Farmer Producer Organizations (FPOs), which will benefit over 1.24 lakh farmers.

According to the Prime Minister’s Office, this is in accordance with the government’s ongoing commitment and determination to empower small-scale farmers.

According to the PMO, this will facilitate the transfer of more than Rs. 20,000 crores (US$ 2.69 billion) to more than 10 crore eligible farmer families.

The PM-KISAN scheme provides eligible beneficiary farming families with a financial benefit of Rs 6,000 (US$ 80.7) per year, payable in three equal four-monthly instalments of Rs 2,000 (US$ 26.9) each. The funds are deposited immediately to the beneficiaries’ bank accounts. To date, about Rs 1.6 lakh crore in Samman Rashi has been given to farming households through this scheme.