Bhopal (Madhya Pradesh) [India], September 30 : Madhya Pradesh government is all set to implement the Bhavantar Scheme (Price Deficiency Payment Scheme) for soybean crops in the state.
Registration under the scheme will commence on October 3, with the scheme becoming effective from October 24.
Under the scheme, after registration, farmers can continue selling their soybean crops in the mandis as before, and if any farmer does not get the Minimum Support Price (MSP) for their crop, the state government will pay the difference.
The state government will also compensate losses to soybean farmers caused by crop damage from yellow mosaic disease.
"The state government is committed to ensuring fair prices for soybean-producing farmers through the Bhavantar Scheme. The government will compensate for losses incurred if soybean is sold below the MSP," CM Yadav said in a post on X on Tuesday.
Mohan Yadav earlier stated that the state government is committed to the welfare of farmers and ensures that they do not face loss.
"If any farmer suffers loss due to the Yellow Mosaic Virus or any natural disasters, we will ensure that no farmer suffers any losses. We will compensate them under all circumstances. The government always stands with the farmers. The Madhya Pradesh government is committed to farmer welfare. Our government has ensured that the current MSP rate of Rs 5,328 is met for soybean farmers. They can sell their crop in Mandis, but ensure registration of the crop with the state government so that if there is a loss or difference from the MSP rate, the state government will repay it to them," he said.
"To compensate for the loss of farmers, we are going to implement the Bhavantar Scheme. Under the scheme, after the registration, if any farmer sells their crop for less than the MSP, we are committed to compensating their losses by depositing the difference in their account," he added.