On October 16, 2017 Madhya Pradesh Chief Minister Shivraj Singh Chouhan launched the ambitious ‘Bhavantar Bhugtan Yojna’ in the presence of the farmers at the Krishi Upaj Mandi in Khurai, Sagar district of Madhya Pradesh.
Salient Features of Bhavantar Bhugtan Yojana:
The objective of this scheme is to ensure reasonable prices to the farmers for their agriculture produces and thereby protecting them from losses suffered on account of distress sale.
- Under this scheme, farmers will be compensated the difference between Minimum Support Price (declared by Union Government) and the actual sale price or Model Price, whichever is higher.
- Model Price will be the average market prices for a particular commodity over a two-month period in Madhya Pradesh and two other states where the crop is grown and traded.
- For example, a farmer has sold a particular commodity at Rs. 100. For this commodity the Minimum Support Price is Rs. 110 and Model Price is Rs. 90. So in this case the difference of Rs. 10 (Rs. 110, MSP – Rs. 100, Actual Sale Price) will be deposited in farmer’s bank account. In case if the same commodity has been sold at Rs. 80, the difference of Rs. 20 (Rs. 110, MSP – Rs. 90 Model Price) will be deposited in farmer’s bank account.
- Currently, compensation under this scheme will be provided for 8 crops including oilseed and pulses.
- Registration is compulsory to avail benefits under this scheme. Besides, farmers are required to sell their crops only in mandis and obtain a receipt for the same.
- The difference amount will be deposited in the bank account within a period of 2 months.
Quick Facts about Madhya Pradesh:
- Capital – Bhopal
- Current Chief Minister – Shivraj Singh Chouhan
- Current Governor – Om Prakash Kohli