₹5,000 Per Hectare Subsidy for Cotton-Soybean Farmers; e-Peak Pera Registrants Eligible: Agri Minister Munde

Mumbai : In 2023, the state government will provide financial support of five thousand rupees per hectare to cotton and soybean farmers. Agriculture Minister Dhananjay Munde announced that all farmers with e-Peak Pera registration are eligible beneficiaries. To avail themselves of this subsidy, farmers must submit either an individual consent letter or a collective no-objection letter to their agricultural assistant, authorizing the use of information linked to their Aadhaar and bank accounts.

This measure is intended to mitigate the economic losses suffered by farmers due to the low market prices of cotton and soybeans during the Kharif season of 2023. The government has decided to extend financial assistance for up to two hectares per farmer, at a rate of five thousand rupees per hectare.

All farmers who cultivate soybeans and cotton and have registered e-crop seeds are eligible to receive this amount. The agriculture department will use the information attached to farmers’ Aadhaar and bank accounts to transfer the subsidy directly into their accounts. To expedite this process, farmers are advised to promptly submit the necessary consent or no-objection letters, particularly in cases of collective farming, ensuring that the funds can be disbursed as quickly as possible, according to Minister Munde.