Govt. hikes raw jute MSP by Rs 300 to Rs 5050 per quintal

Govt. hikes raw jute MSP by Rs 300 to Rs 5050 per quintal

Daily Current Affairs   /   Govt. hikes raw jute MSP by Rs 300 to Rs 5050 per quintal

Change Language English Hindi

Category : Business and economics Published on: March 28 2023

Share on facebook
  • The government on Friday increased the minimum support price of raw jute by Rs 300 to Rs 5,050 per quintal for 2023-24 season.
  • The decision was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting chaired by Prime Minister Narendra Modi.
  • The MSP of Raw Jute (TD-3 equivalent to earlier TD-5 grade) has been fixed at Rs 5,050 per quintal for 2023-24 season.
  • The announced MSP of raw jute for 2023-24 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in the Budget 2018-19.
  • 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.
Recent Post's
  • Taragiri, the fourth Nilgiri-class (Project 17A) stealth frigate with 75% indigenous content, was delivered to the Indian Navy by Mazagon Dock Shipbuilding Ltd (MDL).

    Read More....
  • NeVA is rapidly transforming India’s legislatures into fully digital, paperless Houses through a unified “One Nation, One Application” platform with AI-enabled multilingual support.

    Read More....
  • The Trade Enablement and Marketing (TEAM) Scheme empowers Micro, Small, and Medium Enterprises (MSMEs) with digital tools, enhancing e-commerce access and market opportunities, especially for women-led enterprises.

    Read More....
  • India re-elected to UNESCO Executive Board, strengthening its role in global education, culture, and sustainable development.

    Read More....
  • Darjeeling Mandarin Orange receives GI tag, ensuring fair prices for farmers and boosting regional economy.

    Read More....
  • India launches indigenous Hansa-3 (Next Generation) trainer aircraft, boosting aerospace self-reliance and pilot training capacity.

    Read More....
  • Observed on 2 December, the International Day for the Abolition of Slavery highlights that modern slavery still traps 50 million people across the world.

    Read More....
  • India has rediscovered the bamboo shrimp Atyopsis spinipes after 72 years, correcting past misidentifications and highlighting urgent freshwater conservation needs.

    Read More....
  • India mandates SIM-binding for all messaging apps to curb cyber fraud and strengthen digital security.

    Read More....
  • India updates seismic map, designating the entire Himalayas as the highest-risk Zone VI, highlighting earthquake preparedness and resilient infrastructure.

    Read More....