Bhavantar Scheme Reintroduced for Soybean Farmers in Madhya Pradesh

The Bhavantar Yojana has been reintroduced in Madhya Pradesh after a gap of eight years, aimed specifically at supporting soybean farmers. Chief Minister Dr. Mohan Yadav announced the revival of the scheme to protect farmers from financial loss when market prices fall below the Minimum Support Price (MSP).

According to D.N. Pathak, farmers will not receive any benefit if the soybean price is below ₹4600 per quintal. The government will compensate the difference between the MSP and the average market price over 15 days.

Registration for the scheme has already begun in Madhya Pradesh. The state government’s initiative is expected to provide a big relief to farmers selling soybeans below MSP. If a farmer sells soybean for ₹5000, and MSP is higher, they will get over ₹300 as a bonus directly into their bank accounts.

Farmers will continue to sell their crops at mandis as usual. If they sell below MSP, the difference in price will be credited to their bank accounts via the Bhavantar Yojana. The registration period will be open from October 10 to October 25.