Government may increase the MSP on Jute

New Delhi, 3/3(AO Bureau):The Cabinet Committee on Economic Affairs (CCEA) has raised the possibility of an increase in the Minimum Support Price (Jsp) on Jute. Sources told CNBC Awaaz that the committee is considering an increase of 6-7%.

In February 2019, the Center raised the minimum support price of raw jute from Rs 3,700 per quintal for the 2019-20 season to Rs 3,950 per quintal from the previous season. This decision was taken at a meeting of the Cabinet Committee on Economic Affairs.

MSP expected to increase production and productivity in the jute sector
An MSP said, “The MSP will have a 55.81 percent benefit on the average cost-weighted production of production. The MSP of raw jute will ensure a reasonable minimum price to the farmers and invest in jute farming and thereby increase production and productivity in the country.” have hope.’
The decision was taken less than a month before the assembly elections in West Bengal. The state is the hub of jute producers. There are about 70 jute mills in the country, of which around 60 are on both sides of the Hooghly River in West Bengal. In jute production alone, about two lakh workers are employed in West Bengal and four lakh workers in the whole country.

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