The Union cabinet has approved a hike in the Minimum Support Price (MSP) of raw jute for the 2024-25 season to Rs 5,335 per quintal, according to Union Minister Piyush Goyal on Thursday.
This is up from the current MSP of Rs 5,050 per quintal, a hike of 5.6%.
This would ensure a return of 64.8% over the all India weighted average cost of production, the government said in a statement.
In the current season 2023-24, the government has procured a record amount of more than 6.24 lakh bales of raw jute through the Jute Corporation of India, at the cost of Rs 524.32 crore, benefitting around 1.65 lakh farmers.(You can now subscribe to our Economic Times WhatsApp channel)
Source link
