The Maharashtra government has initiated the distribution of subsidies to cotton and soyabean farmers for the 2023 Kharif season. In a state cabinet meeting on Monday, Chief Minister Eknath Shinde, along with Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, launched the first phase of the subsidy program. Under this scheme, the government has deposited Rs 2,398.93 crore into the bank accounts of 49.5 lakh registered farmers through Direct Benefit Transfer (DBT).
Maharashtra Agriculture Minister Dhananjay Munde said that 96 lakh farmers are eligible for this subsidy. Once Aadhar verification and other formalities are completed, the remaining farmers will also receive their benefits in phases.
Last year, cotton and soyabean farmers faced significant crop losses during the Kharif season. In response, the government had announced a subsidy of Rs 5,000 per hectare to provide financial relief. Farmers can benefit from this subsidy for up to two hectares. This initiative aims to support farmers dealing with rising input costs and unpredictable weather conditions.
The assembly elections in Maharashtra are scheduled before November, and the government is keen to avoid a repeat of the backlash it faced from onion farmers during the Lok Sabha elections. To prevent discontent among cotton and soyabean farmers, who also grow these crops extensively in the state, the government is focused on providing timely assistance. The farmers have been distressed due to low market prices for these crops.
Recently, during his visit to Maharashtra, Prime Minister Narendra Modi assured farmers that cotton and soyabean would be purchased at the Minimum Support Price (MSP) this season. Additionally, the central government has increased the import duty on crude edible oil, leading to a rise in soybean prices, though they remain at or below the MSP.