PM Modi pitches for structural reforms in agriculture to boost investment

With the farm sector facing headwinds, Prime Minister Narendra Modi on Saturday stressed upon the need for structural reforms in agriculture which would boost private investment, strengthen logistics and provide ample market support to farmers.

Delivering the opening address during the fifth Governing Council meeting of NITI Aayog, PM Modi said that the food processing sector should grow at a faster pace to benefit the farmers. He also called for effective steps to tackle the drought situation facing the country with the spirit of 'per drop more crop.'

On flagship schemes like PM-KISAN, the prime minister asserted that it should reach intended beneficiaries well within time.

PM Modi said that the aim of his new government was to provide piped water to every rural home by 2024 for which special attention had to be given to water conservation and management. He said the country was now moving towards a governance system which was characterised by 'Performance, Transparency and Delivery'.

On the naxalite menace, the prime minister said the battle against naxal violence was now in its decisive phase and it would be dealt with firmly even as development proceeded in a fast-paced and balanced manner.

PM Modi said the goal of making India a $5 trillion economy by 2024 was "challenging, but achievable" with the concerted efforts of the states. The meeting is being attended by all chief ministers, except Mamata Banerjee (West Bengal) and K Chandrashekhar Rao (Telangana), and senior union ministers.

PM Modi, according to an official release, stressed that NITI Aayog had a key role to play in fulfilling the mantra of "Sabka Saath, Sabka Vikas, Sabka Vishwas".

Recalling the recent general elections as the world's largest democratic exercise, the prime minister said that it was now time for everyone to work for the development of India. He spoke of a collective fight against poverty, unemployment, drought, flood, pollution, corruption and violence.

Modi stressed that states should recognise their core competence and work towards raising GDP targets right from the district level.

The prime minister also added that the newly-created Jal Shakti Ministry will help provide an integrated approach to water and states can also integrate various efforts towards water conservation and management.