Relief For Soybean Farmers, MP Govt. to send Rs 810 crore
On Sunday, December 29, Madhya Pradesh Chief Minister Dr. Mohan Yadav transferred Rs. 810 crore to the bank accounts of 3.77 lakh Soybean farmers in the state with a single click during a grand event held in Jaora, Ratlam district. This amount was provided under the Chief Minister Bhavantar Payment Scheme as compensation to soybean farmers for the difference between the market price and the Minimum Support Price (MSP).
Relief for Soybean Farmers with the 2nd Installment of the Scheme
The large sum of Rs. 810 crore transferred today was the second installment under the scheme. This will provide soybean farmers with financial assistance for preparing for the Rabi season and meeting other agricultural needs. Earlier in November, the government had released the first installment of approximately Rs. 300 crore to 1.32 lakh farmers.
What is the Bhavantar Payment Scheme?
The main objective of the Chief Minister Bhavantar Payment Scheme is to protect farmers from market fluctuations. Only those farmers who have registered under the scheme are eligible for benefits. If the market price of soybean falls below the Minimum Support Price (MSP), the government compensates for the difference. The payment is calculated based on the MSP, the actual price at which the farmers sold their produce, and the state government’s ‘model rate’.
CM Kisan Kalyan Yojana and PM Kisan Samman Nidhi
While soybean farmers received this relief, more than 83 lakh farmers in the state are waiting the 14th installment of the Chief Minister Kisan Kalyan Yojana. Meanwhile, the 21st installment of the central government’s PM Kisan Samman Nidhi was released on November 19. According to administrative information, the next instalment from the state government is expected to reach farmers’ accounts by February 2026.