Bhavantar Bhugtan Yojana Madhya Pradesh – Here comes a good news for the farmers of the state Madhya Pradesh as CM Shivraj Singh Chouhan launched Mukhyamantri Bhavantar Bhugtan Yojana (Price Deficit Financing Scheme). Under this scheme the Madhya Pradesh government will provide compensate to the farmers when the crops are sold below the minimum support prices (MSP). Mukhyamantri Bhavantar Bhugtan Yojana Registration will be started from 11 September 2017 and will be continued till one month i.e 11 October.
Under the scheme, farmers will have to register their crops at village-level cooperative societies along with their Aadhaar and bank account numbers. MP is the first state to launch such a scheme which will be helpful to protect home or domestic market of the state. The minimum price for each produce will be fixed based on the prices at mandis in two states where it is grown.
Mukhyamantri Bhavantar Bhugtan Yojana 2017 Application Form
Below are the steps to get application form for Mukhyamantri Bhavantar Bhugtan Yojana 2017.
- The farmers have to make Mukhyamantri Bhavantar Bhugtan Yojana Registration to take the benefit of this scheme.
- The farmers can get the application form and registration form from village-level cooperative societies.
- They have to submit their Aadhar card which must be attached to their account number.
- More information regarding the scheme registrations will be updated soon.
- The compensation will be paid to the farmers’ bank accounts directly after verification of Mandi receipts.
Working of Scheme
Here are the details which indicates the working of this scheme.
- If the MSP for soybean is Rs3,050 per quintal and the modal rate is Rs2,700 per quintal, if a farmer sells the crop at Rs2,800 per quintal in a Mandi (wholesale market), the government will pay out Rs250 for every quintal sold directly to the farmer’s bank account.
- However, if the crop is sold at Rs2,600 per quintal, the state will transfer only Rs350 per quintal of produce sold, or the difference between MSP and the modal price.