The Jute Corporation of India (JCI) will proceed as a central authorities nodal company to undertake value help operations.
The choice to repair the minimal help value (MSP) of uncooked jute (TDN-3 equal to earlier TD-5 grade) was taken on the Cabinet Committee on Economic Affairs
The authorities on Thursday raised MSP for uncooked jute by Rs 285 to Rs 5,335 per quintal for the 2024-25 season. The choice to repair the minimal help value (MSP) of uncooked jute (TDN-3 equal to earlier TD-5 grade) was taken on the Cabinet Committee on Economic Affairs, Union Minister Piyush Goyal stated.
He stated the choice will significantly profit farmers in jap states, particularly West Bengal. In the present season 2023-24, the federal government has procured a file quantity of greater than 6.24 lakh bales of uncooked jute at the price of Rs 524.32 crore, benefitting round 1.65 lakh farmers.
The MSP for 2024-25 will guarantee a return of 64.8 per cent over the all-India weighted common value of manufacturing, an official launch stated. The MSP of uncooked jute for the 2024-25 season is in keeping with the precept of fixing the minimal help value at a stage of no less than 1.5 instances all India’s weighted common value of manufacturing as introduced by the federal government within the Budget 2018-19.
The choice relies on suggestions of the Commission for Agricultural Costs and Prices (CACP). The Jute Corporation of India (JCI) will proceed as a central authorities nodal company to undertake value help operations and the losses incurred, if any, in such operations, shall be absolutely reimbursed by the central authorities.
