Scheme for Farmers- Good news for farmers. Apart from PM Kisan Yojana, Now Government has started a new scheme for farmers. The Uttar Pradesh government has launched India’s first carbon credit finance scheme to promote environmental protection and economic prosperity of farmers. So far, Rs 49.55 lakh has been given to 244 farmers under this scheme. In the next phase, Rs 25.45 lakh will be given to 401 more farmers.
Chief Minister Yogi Adityanath launched it during the state-wide tree plantation campaign organised at Ayodhya Dham. In the first phase, farmers from Gorakhpur, Bareilly, Lucknow, Meerut, Moradabad and Saharanpur divisions were included. 2,406 farmers of Gorakhpur will get Rs 34.66 crore, 4,500 farmers of Bareilly will get Rs 24.84 crore, 2,512 farmers of Lucknow will get Rs 21.26 crore, 3,754 farmers of Meerut will get Rs 21.67 crore, 4,697 farmers of Moradabad will get Rs 38.05 crore and 7,271 farmers of Saharanpur will get Rs 61.52 crore.
In the second phase, the scheme will be expanded to Devi Patan, Ayodhya, Jhansi, Mirzapur, Kanpur, Varanasi and Aligarh divisions and in the third phase, it will be implemented in the entire state.
What is Carbon Credit?
Carbon credits are a type of environmental currency that represents a reduction in greenhouse gas emissions. Each carbon credit represents the reduction, removal or offset of one tonne of carbon dioxide equivalent (CO2e). Farmers can earn carbon credits by implementing technologies that reduce emissions or increase carbon absorption, such as tree planting. These credits can be sold or traded in the carbon market, generating additional income for farmers.
What is the scheme of UP government?
According to the state government, UP farmers have so far generated 42.19 lakh carbon credits through agroforestry. The distribution takes place every five years at the rate of $6 per credit. The scheme is being run in partnership with The Energy and Resources Institute (TERI). Under this, one carbon credit is given for removing one metric ton of carbon dioxide or other greenhouse gas.
This gives farmers an opportunity to contribute to environmental protection along with income. Under the scheme, farmers can earn an additional Rs 250 to Rs 350 per tree. From 2024 to 2026, 25,140 farmers will get incentives worth Rs 202 crore. The scheme will play an important role in the Government of India’s carbon neutrality target by 2070.
