Rs 2,398 Crore Distributed to 49 Lakh Farmers under the Cotton-Soybean Subsidy Scheme

Mumbai : In a major initiative, Rs 2,398 crore was directly transferred into the accounts of 49 lakh farmers under the Cotton-Soybean Subsidy Scheme. The benefits were distributed by Chief Minister Eknath Shinde, along with Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, and Agriculture Minister Dhananjay Munde during a cabinet meeting.

Agriculture Minister Dhananjay Munde spearheaded the move to provide financial assistance of Rs 5,000 per hectare to soybean and cotton farmers who suffered losses due to low yields last year. The online distribution system, launched during the cabinet meeting today, facilitates direct financial aid to farmers. With just one click, Rs 5,000 per hectare was transferred to the accounts of approximately 49.5 lakh farmers, amounting to Rs 2,398 crore.

During the Kharif season of 2023, the Agriculture Department allocated a total of Rs 4,194 crore to 96.78 lakh soybean and cotton-producing farmers through the Direct Benefit Transfer (DBT) system. Of this, Rs 1,548 crore was designated for cotton and Rs 2,646 crore for soybean farmers.

MahaIT was tasked with creating an independent portal, along with a dedicated accounting head, for the transparent distribution of grants. Consent letters, bank account details, and other necessary information were collected from the farmers to ensure accountability. Agriculture Minister Munde confirmed that today, around 49.5 lakh farmers have already benefited from the assistance. As Aadhaar and other information are linked to the system, the scheme will also extend its benefits to farmers who were previously left out.