Rs 2,250 crore will be spent in the scheme.
This comes at a time, when farmers in Madhya Pradesh, Rajasthan and Chhattisgarh, where the Congress won the recently concluded assembly elections got the farm loan waiver as promised by the party during its poll campaign.
The Chief minister while addressing a presser here said that those farmers who have less than one acre of land they too would be getting a minimum of Rs 5000 for the Kharif crop which would be paid to them through cheques.
"We will give Rs 5000 to farmers having less than one acre land for Kharif crops every year. This scheme will be named as Mukhya Mantri Krishi Ashirwad Yojana&will be introduced from 2019-20 Budget," he said.
"The scheme would be highly beneficial as it will double the income of the farmers as visioned by Prime Minister Narendra Modi," he added.
The scheme would cover 22. 76 lakh small and medium scale farmers in the state.