New Delhi, March 6 -- Prime Minister Narendra Modi on Friday said that various initiatives launched by the union government have reduced risks for farmers and provided them with basic economic security, while emphasising that agriculture will remain a key pillar of India's long-term development strategy.

Speaking at the third post-Budget webinar focused on agriculture and rural prosperity, the prime minister highlighted the impact of flagship welfare schemes and called for greater efforts to transform the farm sector through diversification, exports and sustainable practices.

"Various government schemes have lowered risks for farmers and given them basic economic security," Modi said, adding that the Centre had disbursed more than Rs 4 la...