Cabinet Approves Implementation of 'Mukhyamantri Vriksha Sampada Yojana' From FY 2023-24

• 31 Dec 2022

Why in News?

• On December 30, 2022, the state cabinet meeting chaired by Chief Minister Bhupesh Baghel approved the implementation of a new scheme 'Mukhyamantri Vriksha Sampada Yojana' from the financial year 2023-24 with the aim of increasing the income of farmers.

Key Points

• Farmers or institutions interested in participating in the 'Mukhyamantri Vriksha Sampada Yojana' can contact the office of the Forest Range Officer of their area and give information about the plants required for planting in the coming year with a consent letter.
• It is worth mentioning that under this scheme, one lakh 80 thousand acres of commercial tree species (Clonal Nilgiri, Tissue Culture Bamboo, Tissue Culture Teak, Milia Dubia and other economically beneficial species) will be planted in the private land of farmers at the rate of 36 thousand acres per year.
• All interested land owners, government, semi-government and government autonomous institutions, private educational institutions, private trusts, non-governmental institutions, panchayats and land contract holders, who want to plant in their land, will be the beneficiaries of this scheme.
• Under 'Mukhyamantri Vriksha Sampada Yojana', eligible beneficiaries will be given 100 percent financial grant for planting saplings on land up to 5 acres (maximum 5000 plants) and 50 percent for planting on more than 5 acres of land.
• Participation of partner entity or private companies is proposed in the scheme. They have also proposed to buy back the trees of the beneficiaries at the support price fixed by the government with financial participation. With the participation of associate organizations or private companies, farmers will get a assured market for their produce and the financial burden on the government will also be reduced. Tissue culture teak, tissue culture bamboo and milia doodiya trees will be purchased by the government at the fixed support price after maturity.
• Under this scheme in the state, after the maturity of 15 crore saplings planted in one lakh 80 thousand acres in a total of five years, the beneficiaries are likely to get an income of about Rs 5000 crore.
• About 30 thousand farmers will benefit every year from the implementation of 'Mukhyamantri Vriksha Sampada Yojana'. With the implementation of this scheme, the beneficiaries will get income from 15 to 50 thousand rupees per acre per year.
• The implementation of the scheme will ensure availability of raw materials for wood-based industries such as paper mill, plywood, furniture, veneer, etc. The establishment of new industries will increase the employment opportunities of the local residents and the government will get more revenue through various taxes.