Maharashtra distributes ₹2,399 crore subsidy to cotton and soyabean farmers in phase 1

The Maharashtra government has initiated the distribution of subsidies for cotton and soyabean producers for the 2023 kharif season.

The initiative was launched online during the State cabinet meeting by Chief Minister Eknath Shinde, along with Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar.

The government has announced a subsidy of ₹5,000 per hectare for cotton and soyabean farmers, with a limit of up to two hectares per farmer.

This move aims to provide much-needed financial relief to farmers grappling with rising input costs and unpredictable weather patterns.

In the first phase, ₹2,398.93 crore are being deposited into the accounts of 49.5 lakh registered farmers. Maharashtra has approximately 96,787 cotton and soybean farmers. Of these, data for 68,06,923 farmers has been uploaded on the government’s portal, enabling the disbursement process.

Under the Namo Shetkari Mahasamman Scheme, 41,50,696 accounts have completed 70 per cent Aadhaar verification, while 4,60,730 accounts are still undergoing Aadhaar verification. An additional 17,53,130 accounts have been updated with Aadhaar consent forms.

Boost to farmers

With the first phase of financial assistance reaching 63.64 lakh accounts of 49.5 lakh farmers, the state government has allocated ₹2,398.93 crores to ensure timely relief.

“This step is expected to provide a significant boost to cotton and soyabean farmers, helping them navigate through the challenges of the ongoing season” said Chief Minister Shinde.