Add thelocalreport.in As A Trusted Source
Bhopal, Nov 10 (IANS) Madhya Pradesh Chief Minister Mohan Yadav will release the first installment of money under the government’s ‘Bhavantar Bhugtan Yojana’ for farmers selling their soybean crops during an event in Dewas district on November 13.
While giving information to the press, Madhya Pradesh Micro, Small and Medium Enterprises (MSME) Minister Chetanya Kumar Kashyap said that Chief Minister Mohan Yadav shared this information during the cabinet meeting on Monday.
Minister Chetanya Kumar Kashyap said that Chief Minister Mohan Yadav will release Rs 300 crore in the bank accounts of 1.32 lakh farmers who have sold their soybean crops and who are registered under the ‘Bhavantar Payment Scheme’ in the state.
Chetanya Kumar Kashyap further informed that the state government has purchased about 2.70 lakh tonnes of soybean from more than 1.60 lakh farmers across Madhya Pradesh. “Each farmer will get around Rs 1,300 per quintal for their produce in their bank accounts on November 13,” the minister said.
The government is purchasing the soybean crop at the ‘mandi’ rate (market prices of agricultural produce vary from day to day.) According to the government, the current price for the soybean crop is pegged at Rs 4,036 per quintal against the minimum support price of Rs. 5,328 per quintal for this year.
The minister said the government has calculated the average mandi rate for soybean crop and decided to compensate the price difference directly into the accounts of farmers through Direct Benefit Transfer (DBT).
Notably, Madhya Pradesh Chief Minister Mohan Yadav had earlier in September announced that the state government would implement the ‘Bhavantar Payment Scheme’ for the soybean crop this year, under which farmers are to be paid the “difference” amount between the market price and the minimum support price.
Madhya Pradesh is the largest soybean producing state in India, often referred to as the ‘Soya Bowl’, with the Malwa region being a major center due to its fertile black cotton soil.
–IANS
pd/red