Price Deficit Financing Scheme (Bhavantar Bhugtan Yojana)

Question: Which of the following States has decided to implement the Price Deficit Financing Scheme (Bhavantar Bhugtan Yojana) in order to provide the right value of their produce to the farmer?
(a) Uttar Pradesh
(b) Madhya Pradesh
(c) Chhattisgarh
(d) Jharkhand
Answer: (b)
Related Facts:

• On August 29, 2017, Madhya Pradesh Government has decided to implement Price Deficit Financing Scheme (Bhavantar Bhugtan Yojana) in the State.
• The purpose of the scheme is to provide appropriate value of farming produces to the State farmers.
• Under the scheme, difference between actual mandi sale price and the discovered supporting price will be reimbursed to the farmers.
• The Scheme currently on pilot basis has determined a supporting price for Kharif for the year 2017.
• Kharif crops include moong, sesamum jowar, urad, arhar ,soyabean, groundnut maize etc.
• Under this scheme, farmers will have to register themselves from September 1st-30th.
• Under this scheme, the difference between Modal prices declared by the State Government on the sale of the crop yields at mandis and minimum support price declared by Central government will be paid by the State Government to the farmers.
• Modal prices (average market prices for a particular commodity) over a two-month period will be calculated on the basis of model price of Madhya Pradesh and two other states where the crop is grown and traded.
• Registered farmers will get benefit on the sale of agricultural produce only in the notified mandi premises.
• Under the scheme eligible farmers will be compensated through Madhya Pradesh Cooperative Marketing Association and the State Civil Supplies Corporation.
• Madhya Pradesh is the first State in the country to implement the scheme.

Reference:
https://mp.mygov.in/sites/default/files/mygov_15033819031701.pdf
http://www.financialexpress.com/india-news/in-a-first-madhya-pradesh-clears-price-deficit-finance-scheme-who-will-benefit-from-it-find-out/832058/
https://hindi.news18.com/news/madhya-pradesh/bhopal-decision-taken-in-cabinet-meeting-of-cm-shivraj-1093761.html
http://www.thehowpedia.com/mukhyamantri-bhavantar-bhugtan-yojana-madhya-pradesh/
http://www.bhopalsamachar.com/2017/08/mp-cabinet-meeting-decision-29-aug-2017.html