The Jute Company of India (JCI) will proceed as a central authorities nodal company to undertake value assist operations.
The choice to repair the minimal assist value (MSP) of uncooked jute (TDN-3 equal to earlier TD-5 grade) was taken on the Cupboard Committee on Financial Affairs
The federal government 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 assist value (MSP) of uncooked jute (TDN-3 equal to earlier TD-5 grade) was taken on the Cupboard Committee on Financial Affairs, Union Minister Piyush Goyal stated.
He stated the choice will enormously profit farmers in jap states, particularly West Bengal. Within 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 consistent with the precept of fixing the minimal assist value at a degree of a minimum of 1.5 occasions all India’s weighted common value of manufacturing as introduced by the federal government within the Finances 2018-19.
The choice relies on suggestions of the Fee for Agricultural Prices and Costs (CACP). The Jute Company of India (JCI) will proceed as a central authorities nodal company to undertake value assist operations and the losses incurred, if any, in such operations, will likely be totally reimbursed by the central authorities.
 of raw jute (TDN-3 equivalent to earlier TD-5 grade) was taken at the Cabinet Committee on Economic Affairs){kind=link}