govinfoadmin
The Government of Madhya Pradesh launched Bhavantar Bhugtan Yojana (Price Deficit Financing Scheme) to help farmers in the state. The Bhavantar Bhugtan Yojana aims to compensate for the losses farmers incur due to fall in prices of the far produce. The government of Madhya Pradesh will now pay all those farmers who had to sell their crop below Minimum Support Prices (MSP) declared by the Central Government.
Initially the scheme will cover crops such as oilseeds and pulses and gradually include rice and wheat. Farmers in the state were demanding loan waiver and agitating after loan waiver in Maharashtra and Uttar Pradesh. Falling crop prices was one of the major reason for the agitation.
To avail the scheme, farmers needs to register their crops at the village level cooperative society along with Adhaar and bank account numbers. Enrollments for the scheme will begin on 11 September and will be open for a month. Compensation will be paid directly in the farmers bank accounts. Farmers just need to provide Mandi receipts to avail the scheme. 6.5 million farmers are expected to apply for the scheme. The scheme will be extended to horticulture farmers as well in future.
Highlights of the Bhavantar Bhugtan Yojana:
- A scheme to compensate farmers who suffered losses due to drop in crop selling prices
- The scheme is applicable to limited number of crops as of now and gradually cover all other crops along with horticulture
- Registrations to begin on 11th September
- Adhaar and bank details along with mandi receipts are required to avail the scheme
