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Business Standard
14 minutes ago
- Business Standard
₹3,300 cr paid to Uttarakhand farmers under Kisan Samman Nidhi: CM Dhami
Uttarakhand Chief Minister Pushkar Singh Dhami on Saturday said with the release of the 20th installment of the Pradhan Mantri Kisan Samman Nidhi, an amount of more than Rs 3,300 crore has been provided to the farmers of the hilly state so far. Virtually taking part in a programme in Varanasi where Prime Minister Narendra Modi on Saturday digitally transferred a total amount of more than Rs 20,500 crore to the accounts of 9.70 crore farmers of the country under the 20th installment of the scheme, Dhami said with this, an amount of Rs 184.25 crore was transferred to over eight lakh beneficiary farmer families of Uttarakhand. It takes the total amount paid so far under the scheme to the farmers of Uttarakhand to Rs 3,300 crore, he said. After 2014, historic steps have been taken for the welfare of farmers across the country. The prime minister is continuously working to double the income of farmers and raise their standard of living, he said. By increasing the minimum support price on major crops, the farmers are being provided a fair price for their crop. Through the Pradhan Mantri Fasal Bima Yojana, the farmers are also being provided security cover for losses caused by natural disasters, crop diseases and pests, he said. Through the Soil Health Card scheme, by scientifically examining the soil of the fields, farmers are also being informed about the deficiency of nutrients and necessary fertilisers, which is improving both the quality of their produce and the fertility of the land. The chief minister said that under the guidance of Prime Minister Modi, the state government is continuously working for the upliftment and prosperity of the farmers of the state. Loans up to Rs 3 lakh are being made available to farmers in the state without interest. Up to 80 per cent subsidy is also being provided through the Farm Machinery Bank Scheme for purchasing agricultural equipment. Irrigation from canals has been made completely free in the interest of farmers. A provision of Rs 200 crore has also been made for the construction of polyhouses to increase the income of farmers. Along with providing a bonus of Rs 20 per quintal to farmers on wheat purchase, the price of sugarcane has also been increased by Rs 20 per quintal. The chief minister said that many important schemes like the new apple policy, kiwi policy, State Millet Mission and Dragon Fruit Policy have been implemented by the state government at a cost of Rs 1,200 crore. Under these policies, a subsidy of up to 80 per cent is being provided to farmers to promote horticulture.
Hindustan Times
44 minutes ago
- Hindustan Times
India ramps up US energy imports as Trump pushes balanced trade
Washington: India has dramatically increased its energy purchases from the US since Donald Trump returned to office in January, with crude oil imports surging 51% in the first half of 2025 compared to the same period last year, according to data cited by people aware of the trade specifics between the two nations. The surge follows a February agreement between Trump and Prime Minister Narendra Modi in Washington, where both leaders committed to expanding energy cooperation. (PTI) The energy buying spree reflects New Delhi's commitment to rebalance trade ties with Washington, a key demand of the Trump administration. Liquefied natural gas imports have nearly doubled from $1.41 billion in FY2023-24 to $2.46 billion in FY2024-25. The surge follows a February agreement between Trump and Prime Minister Narendra Modi in Washington, where both leaders committed to expanding energy cooperation. India pledged to boost American energy imports to $25 billion from $15 billion in 2024, while bilateral trade is targeted to more than double from $200 billion to $500 billion by 2030. 'The leaders reaffirmed their commitment to increase energy trade, as part of efforts to ensure energy security, and to establish the United States as a leading supplier of crude oil and petroleum products and liquefied natural gas to India,' the joint statement said. The momentum has accelerated significantly. Indian crude purchases from America jumped 114% to $3.7 billion in the first quarter of FY2025-26 from $1.73 billion in the same period the previous year. In July alone, imports rose 23% month-on-month, pushing America's share of India's total crude imports from 3% to 8%. 'This trend is increasing further from July this year. So, in July 2025 India imported 23% more crude oil from the US compared to June 2025,' said one of the people who analysed the data. 'Also, in India's overall crude imports, while the US share was earlier only 3%, in July that share increased to 8%.' American LNG has emerged as particularly attractive to Indian companies. 'Buying LNG from America is a very attractive proposition for many Indian companies,' said Prashant Vashisht, senior vice president at ratings agency ICRA. 'Firstly, US LNG, which is priced based on the Henry Hub benchmark, is very competitive price-wise compared to other sources. Second, a large number of LNG projects are coming online in the United States, which will mean that more Indian companies will look closely at the American market for tying up long-term contracts.' The timing aligns with America's plans to rapidly expand oil and gas exports. Trump reversed the Biden administration's pause on processing LNG export licences soon after taking office. The US Energy Information Administration expects North America's LNG export capacity to double by 2028, with America providing most of the increase. India's growing appetite for American energy comes as the country is poised to become the world's largest driver of oil demand growth. The International Energy Agency estimates India will surpass China as the major driver of global oil demand growth by 2030, with LNG demand expected to jump 78% to reach 64 billion cubic metres annually. 'Additional long-term LNG contracts worth tens of billions of dollars are being discussed. Indian oil and gas majors are in discussions with their US counterparts for long-term purchase of US oil and gas,' another person familiar with the matter said. 'India considers the US as among the most reliable partners for India's energy security.' However, energy ties remain a point of contention, particularly regarding India's continued purchases of Russian crude oil. The Trump administration has pressed New Delhi to reconsider its energy relationship with Moscow to pressure President Vladimir Putin to negotiate an end to the Russia-Ukraine conflict.
Time of India
an hour ago
- Time of India
Amid Trump tariff threat, PM pledges to protect farmers, MSMEs & youth
1 2 Varanasi: Amid the tariff stalemate with the USA, Prime Minister Narendra Modi on Saturday sent a strong message to the world that protecting India's economic interest was paramount. Speaking in his parliamentary constituency on Saturday, the PM emphasised that the "top priority of the government remains the welfare of farmers, small industries and employment for youth." He reaffirmed the resilience of the Indian economy, saying that the country must remain vigilant about its economic interests and adopt 'swadeshi' products. "There is an atmosphere of global instability. All countries are focusing on their individual interests. India is going to become the third biggest economy in the world and this is why India will have to stay alert as far as its economic interests are concerned," the PM said, two days after UP President Donald Trump called India a 'dead economy'. CM Yogi Adityanath and two deputy CMs, Keshav Maurya and Brajesh Pathak were present on the occasion. Addressing a public gathering at Kalikadham in Sevapuri after transferring Rs 20,500 crore directly into the bank accounts of over 9.70 crore farmers as the 20th installment of the PM-Kisan Samman Nidhi scheme and inaugurating and laying the foundation of 52 projects worth around Rs 2,200 crore, the PM urged people to go 'Vocal for Local'. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Trade ETH/USD Without Holding Ether IC Markets Learn More Undo "Anyone who wishes good for the country and wants to see India become the third-largest economy must encourage this spirit of going local," he said. The PM urged traders to promote 'swadeshi' products, terming it a true national service, and appealed to citizens to use Indian-made goods during the upcoming festivals and wedding seasons. He also advised people to hold weddings in India instead of abroad, highlighting that many young people were already doing so. "Every choice we make in favour of 'Swadeshi' will shape the future of the country. With everyone's effort, the dream of a developed India will come true. From now on, let's pledge to buy and decorate our homes with only Indian-made products," he added. Modi highlighted his government's farmer-centric policies, stating that unlike previous governments, the BJP administration has fulfilled its promises to farmers, citing the PM-KISAN Samman Nidhi as a prime example. "When this scheme was launched, opposition parties like the Samajwadi Party and Congress left no stone unturned to mislead farmers by claiming that after the 2019 Lok Sabha election, it would be stopped and even the money transferred into the accounts of farmers would be taken back. However, Rs 3.75 lakh crore has been transferred directly to farmers' accounts so far," he said. In UP alone, 2.5 crore farmers have received over Rs 90,000 crore, while farmers from Kashi got Rs 900 crore, he added. Referring to the transparency maintained in the schemes of his govt, Modi said, "There are no cuts, commissions, or middlemen. We created a permanent system where there's no leakage and no one can steal the rights of the poor." Prime Minister Modi emphasized developing the most backward regions with his mantra of 'High priority to more backward'. He highlighted the newly approved PM Dhan Dhanya Agriculture Scheme, focusing on underdeveloped districts with low crop production and income. He said the govt will invest Rs 24,000 crore in this scheme to support farmers from 'lab to field' and 'seed to market' for their products. Massive investments are being made in irrigation, and under the PM Fasal Bima Yojana, over Rs 1.75 lakh crore in claims were already paid out to farmers. Modi also mentioned a record increase in the MSP for farmers. Emphasising the govt's focus on boosting women's participation in agriculture through initiatives like Lakhpati Didi and Drone Didi, he stated that the aim is to empower 3 crore rural women financially, with over 1.5 crore already becoming Lakhpati Didis. Taking a subtle dig at the opposition, the PM said: "Hearing these numbers, SP leaders might just hop on their cycles and run away. " Despite agriculture being a state subject, the Centre has taken proactive steps to enhance farmers' income and living standards by implementing beneficial schemes, PM Modi said. He praised banks for launching a mega campaign and holding fairs in villages across the country for KYC renewal of the account holders under the Jan-Dhan scheme on the completion of its 10 years of launching. Modi also marked the distribution of assistive devices under the Rashtriya Vayoshri Yojana to 2,000 Divyangs by handing over devices, including low vision glasses to Babli Kumari (visually impaired student), sports wheelchairs to Santosh Kumar Pandey and Vikas Kumar Patel, hearing aids to Kishun, and a motorized tricycle to Sita Kumari Pal (teacher). Union agriculture minister Shivraj Singh Chouhan joined the event virtually from Patna. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
