New Delhi, June 10 (IANS) PM Narendra Modi on Monday took charge as the Prime Minister and signed his first file for the welfare of the farmers.

He arrived at the Prime Minister's Office at South Block to a rousing welcome by the staff. The PMO staff had lined up at the entrance and corridor leading up to the PM's office.

PM Modi acknowledged with a humble 'namaste' and thanked them all the way.

After being sworn in as Prime Minister for the third time, PM Narendra Modi signed his first file authorising the release of the 17th instalment of PM Kisan Nidhi.

This will benefit 9.3 crore farmers with a total distribution expected to reach around Rs 20,000 crore.

After signing the file, PM Modi said “Ours is a Government fully committed to Kisan Kalyan. It is therefore fitting that the first file signed on taking charge is related to farmer welfare. We want to keep working even more for the farmers and the agriculture sector in the times to come.”

PM Modi assumed office for the third consecutive time.

Now all eyes are on the portfolio distribution.

The first Cabinet meeting of new ministers is likely to be held later in the day, said sources.

The new Cabinet includes 30 Cabinet Ministers, five Ministers of State with Independent Charge, and 36 Ministers of State.

On Sunday evening, PM Modi took the oath of office along with 71 ministers in a ceremony held at the Rashtrapati Bhavan. President Droupadi Murmu administered the oath of office to the PM and other ministers.

After taking oath PM Modi posted on X that he looks forward to serving 140 crore Indians and working with the Council of Ministers to take India to new heights of progress.

He also said,"...This team of Ministers is a great blend of youth and experience, and we will leave no stone unturned in improving the lives of people..."

PM Modi is the second Prime Minister after Jawaharlal Nehru to serve three consecutive terms.

India to continue transformation under PM Modi towards becoming 3rd largest economy: CII

The Confederation of Indian Industry (CII) on Monday said they are confident that under the astute leadership of Prime Minister Narendra Modi, the country would continue its economic transformation and emerge among the top three in the world.

In a statement, Sanjiv Puri, President of CII, congratulated PM Modi for assuming charge for the third consecutive term.

“Building upon a strong growth rate of 8.2 per cent for 2023-24, the new government under his visionary leadership can usher in the next phase of reforms to make the most of the global opportunities and build on the robust fundamentals of the Indian economy,” said Puri.

India is forecast to surpass Japan to become the world's fourth-largest economy in the near future. The government recently said India is expected to overtake Japan and Germany to emerge as the world's third-largest economy by 2027.

This is a pivotal moment for India, and Indian industry is keen to work with the incoming government to further accelerate the developmental journey of the nation, he noted.

Chandrajit Banerjee, Director General, CII, said that under PM Modi’s visionary leadership, “we shall see the unfolding of a golden chapter in India’s development journey.”

PM Modi on Monday took charge and signed his first file for the welfare of the farmers.

This will benefit 9.3 crore farmers with a total distribution expected to reach around Rs 20,000 crore.

Banerjee said that the CII would intensify its initiatives for building stakeholder consensus on the next generation of reforms and “work closely with the new government on unlocking the potential of India’s demographic dividend through education, healthcare and skill development".