Farming and agriculture has not been an attractive profession, mostly because its not profitable. The reasons for it being a non profitable occupation is the lower remuneration which the farmers get from their investment of time and hard work on the fields and on the crops.
Madhya Pradesh government lately has announced a very attractive scheme, the level of farmer’s contentment can be estimated by the fact that more than 16 lakh of Madhya Pradesh’s 64 lakh farmers have registered themselves under the Bhavantar Bhugtan Yojana (price deficit finance scheme). The scheme has gathered much appreciation since the state government would pay the farmers the difference between modal rate (the average prices in major mandis) and the minimum support prices (MSPs) for the kharif crops if the latter prices could not be fetched by them.
The other kharif crops like pulses : moong, urad and arhar, oilseeds, groundnut and maize and soyabean are being sown by the farmers to get benefited by the scheme.
Farmers have registered themselves with the Madhya Pradesh Civil Supplies Corporation (MPCSC) and Madhya Pradesh State Cooperative Marketing Federation (Markfed) for the payment.
What is Bhavantar Bhugtan Yojana?
Till now, the scheme is backed only by the state government of Madhya Pradesh. Though lately, the state government has approached the Centre for financial assistance to run the scheme. Mandatorily farmers are supposed to submit details like Aadhaar numbers, bank account details, details of the crop cultivated and average yield etc. The amount given to the farmers will be the difference between the MSP and a modal price based on the average selling price in the big mandis in key producing states including Madhya Pradesh over a two-month period. The ‘differential’ payment to soybean farmers would be made after December 31 when the sale window is closed. Similarly, farmers who have sown maize will be paid by January 31 and for pulses it would be after February. According to the officials, the key aim of the scheme is to protect farmers against a sharp fall in prices and curb losses incurred by state agencies in procurement of agricultural commodities and disposal later in the market.
A few years ago, Goa had initiated a similar scheme in a limited way for paddy and betel nuts (supari).
Inputs from :
mp.gov , financial express, Indian express