Cabinet approves MSP of Rs 3,950/quintal for raw jute
Cabinet approves MSP of Rs 3,950/quintal for raw jute
Published:
The Cabinet Committee on Economic Affairs on Wednesday approved an increase in the Minimum Support Price (MSP) for raw jute by Rs 250 to Rs 3,950 per quintal for 2019-20 season. (Photo: IANS)
ADVERTISEMENT
New Delhi, Feb 13 (IANS) The Cabinet Committee on Economic Affairs on Wednesday approved an increase in the Minimum Support Price (MSP) for raw jute by Rs 250 to Rs 3,950 per quintal for 2019-20 season.
The new MSP would yield returns of 55.81 per cent over the production cost of fair average quality of raw jute, which the government said would ensure appropriate minimum prices to the farmers and step up investment in jute cultivation and thereby production and productivity in the country.
The MSP of raw jute in 2018-19 was Rs 3,700 per quintal.
--IANS
spk/nir
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)
SCROLL FOR NEXT