Live
- Nagarkurnool: Burglary in a locked house
- Nadda asks voters to unseat BJD govt
- KCR Rally at Hanumakonda Chowrastha Road Show for Warangal Parliamentary Elections
- Yastika, Renuka Thakur star in India’s 44-run win over Bangladesh in T20I series opener
- Sai Sangeeta won gold medal for India in Dubai Asian Championship
- BSP's Akash Anand booked for hate speech against BJP
- Two die of sunstroke in Kerala, heat alert sounded in parts of state
- IPL 2024: Will Jacks, Kohli shock Gujarat, keep RCB's playoff hopes alive
- IPL 2024: 'Can't sit and speak from a box', Virat Kohli slams strike-rate critics
- ISL 2023-24: We have to give our everything, says FC Goa's Fernandes ahead of semis clash with Mumbai City
Centre hikes MSP of raw jute by Rs 285 per quintal
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Thursday, gave its approval for raising the Minimum Support Prices (MSP) for raw jute by Rs 285 per quintal in the 2024-25 season.
New Delhi: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Thursday, gave its approval for raising the Minimum Support Prices (MSP) for raw jute by Rs 285 per quintal in the 2024-25 season.
The MSP of raw jute (TDN-3 equivalent to earlier TD-5 grade) has been fixed at Rs 5,335 per quintal for the 2024-25 season. This would ensure a return of 64.8 per cent over the all-India weighted average cost of production.
The announced MSP of raw jute for the 2024-25 season is in line with the principle of fixing the MSP at a level of at least 1.5 times the all-India weighted average cost of production as announced by the government in the Budget 2018-19, according to an official statement issued after the CCEA meeting.
The decision is based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
In the last 10 years, the government has increased MSP for raw jute from Rs 2,400 per quintal in 2014-15 to Rs 5,335 per quintal in 2024-25, registering a growth of 122 per cent.
In the current season 2023-24, the government has procured a record amount of more than 6.24 lakh bales of raw jute, at the cost of Rs 524.32 crore, benefitting around 1.65 lakh farmers.
The Jute Corporation of India (JCI) will continue as the Central government nodal agency to undertake price support operations and the losses incurred, if any, in such operations, will be fully reimbursed by the Central government, the statement added.
