Maharashtra Launches Subsidy Program, Distributes Rs 2,399 Crore To Boost Cotton And Soybean Cultivation
The scheme provides a subsidy of Rs 5,000 to farmers with a cap of up to two hectares of land.
As many as 49,50,000 agriculturists received the subsidy amount, which was directly transferred into their bank accounts.
(Source: iStock)
The Maharashtra government on Monday disbursed Rs 2,399 crore to cotton and soybean growers under a new scheme that provides a Rs 5,000 per hectare subsidy to farmers.
Farmers who cultivated cotton and soybean in the 2023 kharif season and had registered themselves on the state government's portal for the same received the subsidy amount directly into their bank accounts.
As many as 49,50,000 agriculturists received the subsidy amount, which was directly transferred into their bank accounts, and the total outlay was Rs 2,398.93 crore, said an official from the state agriculture department.
Chief Minister Eknath Shinde, his deputies Devendra Fadnavis and Ajit Pawar launched the subsidy scheme, targeted at farmers and unveiled just ahead of the assembly polls which are likely to be held in November. Agriculture Minister Dhananjay Munde was also present on the occasion.
The scheme provides a subsidy of Rs 5,000 to farmers with a cap of up to two hectares of land.
The agriculture department issued a statement saying there are 96 lakh cultivators of cotton and soybean in the state, of which 68,06,923 were able to upload relevant information on the government portal for subsidy distribution.
