Bhopal, Oct 22 Madhya Pradesh is once again preparing to procure soybean under the Bhavantar Bhugtan Yojana (BBY), with operations set to commence on October 24 and continue through to January 15, 2026.
Known as the ‘soya bowl of India’, the state typically produces between 40 to 50 lakh tonnes of soybean each season, with exceptional years -- such as one recently recorded by government estimates -- reaching an unprecedented 84 lakh tonnes. Yet, despite this agricultural abundance, farmers have long grappled with price instability in the open market.
The Bhavantar Bhugtan Yojana, first introduced in 2017 under the stewardship of then Chief Minister Shivraj Singh Chouhan, was conceived as a pioneering intervention to buffer farmers against market volatility.
The scheme promised to compensate cultivators for the shortfall between the Minimum Support Price (MSP) and the actual market rate. Initially launched as a pilot covering eight crops -- including soybean, maize, moong, urad, and groundnut -- it was hailed as a potential blueprint for national adoption. However, its rollout was marred by delays in payment, cumbersome registration procedures, and allegations of price manipulation by traders, which ultimately led to its discontinuation under the Kamal Nath administration.
Now, under the leadership of Chief Minister Dr Mohan Yadav, the scheme has been revived with renewed vigour and digital safeguards.
Speaking recently via his official X handle, Dr Yadav confirmed that 9.36 lakh farmers have registered for the current season. Soybean, a vital kharif crop, will be traded in mandis during the procurement window, and officials have been instructed to ensure that the differential amount is transferred directly to farmers through Direct Benefit Transfer (DBT) via the e-procurement portal. SMS alerts will be issued to keep beneficiaries informed, enhancing transparency and efficiency.
Tuesday was dedicated to farmer welfare, beginning with the Govardhan festival -- a symbolic homage to nature’s bounty -- and culminating in strategic discussions at the Chief Minister’s residence. The review focused on the Bhavantar Bhugtan Yojana and the Solar Pump Yojana, both central to the state’s agrarian strategy.
Dr Yadav directed officials to expedite subsidy-related administrative processes, stressing that the welfare of farmers must remain at the heart of every government decision. “They are the backbone of Madhya Pradesh’s economy,” he affirmed.
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