Mumbai: Prime Minister Narendra Modi declared a minimum support price (MSP) of ₹6,000 per quintal for soybean. This decision has brought much-needed relief to farmers across Vidarbha, Marathwada, and other soybean-producing regions in Maharashtra, many of whom have been struggling due to fluctuating market rates and adverse conditions.Soybean, is an important cash crop, is primarily grown before Diwali to benefit financially during the fest season. The Vidarbha and Marathwada regions are particularly significant for soybean cultivation, with districts such as Washim, Buldhana, Akola, Amravati, Yavatmal, Wardha, Nagpur, Chandrapur, and Bhandara leading production.Earlier, the Maharashtra government had announced a financial aid of ₹5,000 for distressed farmers to mitigate their losses. Deputy Chief Minister Devendra Fadnavis had also introduced the Bhavantar Yojana, a scheme ensuring farmers receive the price difference between the MSP and lower market rates directly in their bank accounts. While these measures had provided some relief, the Prime Minister’s announcement of ₹6,000 MSP has added additional financial support to soybean producing farmers.The rural economy in Maharashtra heavily depends on soybean trading, particularly during and after the Diwali season. A soybean farmer from Buldhana district expressed satisfaction, saying, “This announcement has brought financial relief to us during the festive season. It gives us hope for a better future.”The combination of state-level schemes like Bhavantar and the new MSP has rejuvenated both farmers and traders. The announcement will strengthen the soybean market in the state as market price are expected to rise, and the Government’s intervention will boost the confidence of traders.The decision will not only ensure economic stability of soybean farmers but will also encourage them to boost soybean production. With both state and central governments working in tandem, soybean farmers are hopeful of a brighter and more secure future. The announcement is reflection of commitment of Mahayuti alliance towards upliftment of farmers and increasing agricultural productivity.