- Major relief for farmers
Bhopal: In a significant decision for agricultural welfare, the Madhya Pradesh government has set the model rate for soybeans under the Bhavantar Bhugtan Yojana (Price Deficit Payment Scheme), assuring farmers of a substantial financial boost.
Chief Minister Dr. Mohan Yadav announced that the state has fixed the soybean model rate at Rs 4,000 per quintal. To ensure farmers receive the full benefit of the Minimum Support Price (MSP) of Rs 5,328 per quintal, the government will provide an additional Rs 1,300 per quintal to soybean growers.
“The state government is pro-farmer and committed to their welfare,” CM Yadav stated, confirming that the relief amount will be distributed to registered farmers on November 13.
This move comes after prices in most state markets fell short of the MSP, with the average market rate calculated at roughly Rs 4,000 per quintal. This Rs1,300 per quintal difference will now be covered by the state government through the Bhavantar scheme.
Over 9.36 lakh farmers have registered for the scheme, which covers the state’s production of over 55 lakh metric tonnes of soybean this year.
