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Ahead of the launch of Bhawantar Bhugtan scheme for farmers, Chief Minister Shivraj Singh Chouhan today said it may be "risky" for the state exchequer which would have to shell out a huge amount of money, but the government would go ahead with it.
To ensure that farmers get minimum support price (MSP) for their yield, the state government is launching this scheme under which, in case farmers get less price in market than the MSP then rest of the amount will be paid by the state exchequer.
If MSP of pulses is Rs 5,025 per quintal, but a farmer has to sell it for Rs 3,500 per quintal in the market, then the state government will pay the remaining Rs 1,525 to them, Chouhan said.
He said to ensure transparency in the process, a model price will be decided on the basis of the average of the market price of the crop in the last two months in Madhya Pradesh, Chhattisgarh and Maharashtra.
Also, the maximum production of the crop per hectare in the region will be considered for the model price, the chief minister said.
"As the state government is going to a pay huge amount to the farmers to ensure that they don't face losses and agriculture remain a profitable profession, it may be risky for the state exchequer but the state will be go ahead with it to double farmer's income in the next five years," he said.
Claiming that this is the first project in the country to ensure that farmers get MSP for their produce, Chouhan said he believed it would be a pilot for a national-level project.
Chouhan said he has informed Prime Minister Narendra Modi about the scheme and claimed that Centre is eagerly observing it.