Mohan Yadav transfers ₹233 crore to 133,000 farmers under Bhavantar scheme in MP

Yadav said the Madhya Pradesh government had delivered on its promise to farmers within 15 days of launching the scheme

BHOPAL: Madhya Pradesh chief minister Mohan Yadav on Thursday transferred ₹233 crore to bank accounts of 133,000 farmers in the state for the soybean crop under the Bhavantar scheme at an event held on Thursday, the state government said in a statement.

Madhya Pradesh is the first state in the country to implement the Bhavantar Yojana, said Mohan Yadav (MP Information Department)

“An amount of ₹233 crore has been transferred to the accounts of 133,000 farmers under the Soybean Price Difference Scheme. This is proof that we have delivered what we promised. Madhya Pradesh is the first state in the country to implement the Price Difference Scheme to ensure farmers receive fair returns on their produce.,” the chief minister said.

Under the scheme, the government pays the difference between the minimum support price ( ₹5,300 per quintal) and the model price, or the average market price, which was this year estimated to be ₹4,000 per quintal.

“Over 9 lakh farmers in the state have registered to sell soybean under the Bhavantar Yojana. Today, funds have been transferred to the accounts of 1.33 lakh farmers. The state government has fulfilled its promise to farmers within 15 days of launching the scheme,” Yadav said, according to the government statement.

According to the government, farmers can register under the Bhavantar Yojana for soybean till January 15.

In MP, soybean was sown in 66 lakh hectares.

Farmer leader Rahul Raj said about 70% soybean farmers sell their crop at a price ranging from ₹2700 to ₹3,800 per quintal. “The government should pay farmers the actual difference in price instead of deciding a model price. The farmers are losing money because of this,” he said.