The state government of Gujarat announces Cotton Farmers Bonus Scheme 2017 for the cotton farmers of the state for Kharif 2017. Gujarat government will provide bonus of Rs. 500 or more per quintal and it will be above the minimum support price Rs. 4020 per quintal. Chief Minister Vijay Rupani announced this bonus scheme by keeping the loss and the low rates of the cotton crops in the state. Now the farmers of the state Gujarat will be happy and will b encouraged to grow more cotton crops.
Gujarat is one of the states where a lot of cotton crops are grown after Maharashtra and Telangana. The state government of Gujarat is going to invest 1250 crore under the Cotton Farmers Bonus Scheme 2017. CM Vijay Rupani said that according to the officials the government receives 50.50 million quintals of fibre (cotton) for Kharif 2017.
Procurement Process under Cotton Farmers Bonus Scheme 2017
After the launching of this scheme the state government will apply a new method to procure the cotton crops under this scheme. Here are some anticipates steps which may be used in this scheme.
- The procurement of cotton at the MSP minimum support price + bonus rates will begin from November 1, from 40 procurement centres out of the 56 in the State.
- Cotton acreage in the State stood at 26.41 lakh hectares, about 5 per cent lower than the 27.25 lakh hectare normal acreage in the State.
- The fund will be the implementing agency for PMFBY in the State.
Meanwhile, in a separate announcement, the State government has approved the formation of a State Crop Insurance Fund as part of the Prime Minister Fasal Bima Yojana. Under the State Crop Insurance Fund, a pool of funds will be created with farmers’ premium, Central crop insurance assistance and State Crop insurance assistance, thereby enabling faster disbursement of claims.