New MSP
Asserting the choice after the Cupboard approval, textile minister Piyush Goyal stated that the brand new MSP of uncooked jute (TDN-3 equal to earlier TD-5 grade) is 65 per cent greater than its estimated value of manufacturing. He stated the choice will vastly profit farmers in jap states, particularly in West Bengal.
Within the present season 2023-24, the federal government has procured a document amount of over 6.24 lakh bales (every bale weighs 180 kg) of uncooked jute at the price of ₹524.32 crore, benefitting round 1.65 lakh farmers.
The MSP of uncooked jute for the 2024-25 season is according to the precept of fixing the minimal assist value at a stage of not less than 1.5 instances all India’s weighted common value of manufacturing as introduced by the federal government within the Funds 2018-19, an official assertion stated. The choice is predicated on suggestions of the Fee for Agricultural Prices and Costs (CACP).
The Jute Company of India (JCI) will proceed as a central authorities nodal company to undertake value assist operations and the losses incurred, if any, in such operations, will likely be totally reimbursed by the central authorities.
Goyal additionally stated that within the final 10 years, the federal government has elevated MSP for Uncooked jute from ₹2,400 per quintal in 2014-15 to ₹5,335/quintal in 2024-25, registering a development of 122 per cent.
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