Will MP Govt Compensate Soya Farmers with Rs 300 Crore on Nov 13?
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Synopsis
Madhya Pradesh's cabinet has approved a Rs 300 crore allocation under the Bhavantar Bhugtan Yojana to support farmers, with the soybean model rate set at Rs 4,036 per quintal. This initiative aims to ensure farmers receive fair compensation and enhance their financial security.
Key Takeaways
- The Madhya Pradesh government allocates Rs 300 crore to support farmers.
- Model rates for soybean set at Rs 4,036 per quintal.
- 1.32 lakh farmers will benefit from direct bank transfers.
- Daily updates on market prices will ensure transparency.
- The initiative aims to empower farmers and eliminate middlemen.
Bhopal, Nov 10 (NationPress) The Madhya Pradesh cabinet has made a significant decision to allocate Rs 300 crore to bolster the financial security of farmers through the Bhavantar Bhugtan Yojana. The initial model rate for soybean has been set at Rs 4,036 per quintal, with real-time updates on daily rates now available.
After the cabinet meeting, Chaitanya Kumar Kashyap, the MSME Minister, announced that this sum will be directly credited to the bank accounts of 1.32 lakh farmers from Dewas on November 13 using a streamlined single-click system.
“The price difference under the scheme is approximately Rs 1,300 per quintal,” the minister explained. “Daily model rates will be announced until the conclusion of the scheme. To date, 1,60,000 farmers have sold around 2.70 lakh tonnes of soybean, with payments processed instantly, eliminating any intermediaries,” he stated.
The portal guarantees that farmers receive the difference between the model rate and the prevailing market price directly in their accounts.
During the cabinet meeting led by the Chief Minister, the scheme was recognized as the most effective price difference mechanism in the nation, establishing a national standard for transparency and timely payments.
The cabinet also acknowledged that Madhya Pradesh was the first state to provide crop loss compensation recently, even before the produce reaches the mandis, a move that has garnered widespread acclaim.
“Our government prioritizes empowering farmers with financial stability. The Bhavantar Yojana has emerged as a symbol of trust,” the minister added.
He also mentioned that daily rate updates will persist throughout the procurement season. Registration remains open on the official portal, and helplines are now available in every district.
This initiative encompasses soybean, urad, moong, and other designated crops. Last year, over Rs 2,400 crore was disbursed to 18 lakh farmers. The cabinet also evaluated procurement infrastructure, noting that more than 350 purchase centres have been established, along with transport subsidies for farmers located more than 15 km away.
“No farmer should incur losses due to low market prices,” the minister asserted.
Point of View
I believe this initiative reflects Madhya Pradesh's commitment to enhancing farmers' welfare. The Bhavantar Bhugtan Yojana sets a precedent for agricultural policies nationwide, ensuring that farmers receive timely compensation and eliminating middlemen. Such measures are critical for fostering trust and financial security among the farming community.
NationPress
11/11/2025
Frequently Asked Questions
What is the Bhavantar Bhugtan Yojana?
The Bhavantar Bhugtan Yojana is a government initiative aimed at providing price support to farmers by compensating them for the difference between the model rate and the market price of their crops.
How much will farmers receive on November 13?
Farmers will receive a total of Rs 300 crore on November 13, which will be directly transferred to their bank accounts.
How are model rates determined?
Model rates are set by the government and updated daily based on market trends to ensure farmers are fairly compensated.
What crops are covered under this scheme?
The scheme covers soybean, urad, moong, and other notified crops.
How can farmers register for the scheme?
Farmers can register for the Bhavantar Bhugtan Yojana on the official government portal, where helplines have also been established for assistance.
