Bhavantar Yojana, also known as the Price Deficit Financing Scheme, is a program launched by the Indian government to support farmers by providing them with a fair price for their crops. The scheme was introduced to help farmers who, until now, have been facing significant losses due to the low prices of their produce.
Under Bhavantar Yojana, the government pays farmers the difference between the minimum support price (MSP) and the market price of their crops. The MSP is a minimum guaranteed price that the government will pay for each crop to ensure farmers receive a fair price for their produce.
The scheme was initially launched for crops such as moong, urad, soybean, groundnut, and til, with the aim of expanding it to other crops later on. Farmers would have to register with the government to be eligible for the scheme.
The payment for the price difference is made directly to the farmer’s account, either by the state or central government. The farmer would need to provide proof of sale of his/her produce in the nearest Mandi. Once the farmer provides the crop sale receipts, their account is credited with the difference between MSP and mandi price.
One of the primary advantages of the scheme is that it provides a safety net to the farmers, ensuring that they receive a minimum income for their crops, regardless of market prices. Other advantages of the scheme include simplifying the procurement process and reducing the stress of farmers selling their crops at throwaway prices.
However, there are some disadvantages to the scheme as well. Some farmers who have already pre-sold their crops may not be able to take advantage of the scheme. Additionally, some farmers fear that the scheme may only benefit big farmers with more acreage as they may have greater access to information and infrastructure.
Implementation and promotion of the scheme remain key challenges. Many farmers may not have access to or awareness of the scheme, which is why the government has taken initiatives like setting up camps and providing information through advertisement campaigns to educate farmers.
In conclusion, Bhavantar Yojana is an essential scheme aimed at supporting farmers and ensuring they receive a fair price for their crops. Despite some challenges and limitations, the scheme has the potential to transform the agricultural landscape of the country and reduce rural distress.