MP govt to pay Rs 300 crore price difference to soya farmers on Nov 13

Madhya Pradesh cabinet on Monday decided to transfer an amount of Rs 300 crore to which is a major boost to farmers under the Bhavantar Bhugtan Yojana, with the first model rate for soybean fixed at Rs 4,036 per quintal and daily rates now being released in real time.

Speaking to reporters after the meeting, Chaitanya Kumar Kashyap, MSME Minister, said the amount will be transferred directly into the bank accounts of 1.32 lakh farmers from Dewas on November 13 through a single-click mechanism.

“The price difference comes at around Rs 1,300 per quintal under the scheme,” the minister said. “Now the model rates will be declared every day till the scheme lasts. So far, 1,60,000 farmers have sold around 2.70 lakh tonnes of soybean under the scheme. Payments are made instantly, without middlemen,” he said.

The portal ensures farmers receive the difference between the model rate and the actual market price directly in their accounts.

In the cabinet meeting chaired by the CM, the scheme was hailed as the most successful price difference mechanism in the country, setting a national benchmark for transparency and prompt payments, he said.

The cabinet noted that Madhya Pradesh is the first state to pay crop loss compensation a few days ago, even before produce reaches mandis, a move that has won widespread praise.

“Our government believes in empowering farmers with financial security. The Bhavantar Yojana has become a symbol of trust,” the minister said.

He further said, daily rate updates will continue till the end of the procurement season. Registration is open on the official portal, and helplines have been activated in every district.

The scheme covers soybean, urad, moong, and other notified crops. Last year, over Rs 2,400 crore was disbursed to 18 lakh farmers. The cabinet also reviewed procurement infrastructure. Over 350 purchase centres have been set up, with transport subsidies for farmers living beyond 15 km.

“No farmer should lose money due to low market prices,” the minister asserted.

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The Hans India