The central government is continuously taking big steps towards doubling the income of the farmers. This time the central government has given great news to the jute producing farmers. The government has increased the minimum support price (MSP) of raw jute by Rs 250 to Rs 4,750 per quintal for 2022-23.
Approval The Cabinet Committee on Economic Affairs chaired by PM Modi on the recommendations of the Commission for Agricultural Costs and Prices has approved the Minimum Support Price (MSP) of Raw Jute for the season 2022-23.
Rs 250 increase in MSP of raw jute
The MSP (Tdn3 equivalent to TD5 grade) of raw jute has been fixed at Rs 4750/- per quintal for the 2022-23 season, which is an increase of Rs 250 over the previous year. This will ensure a return of 60.53 per cent on the All India Weighted Average Cost of Production. The declared MSP of raw jute for the 2022-23 season is in line with the principle of fixing the MSP at a level of at least 1.5 times the all India weighted average cost of production announced by the government in Budget 2018-19.
Important step towards promotion of jute fiber
It assures minimum 50 per cent as margin of profit. This is one of the important and progressive steps towards ensuring better remunerative returns to the jute growers and promoting quality jute fibre.
Jute Corporation of India (JCI) will continue as the nodal agency of the Central Government to conduct the price support operations. In case of any loss in such operations, the Central Government will fully compensate it.
60 percent jute production in India
Let us tell you that about 60 percent of the world's jute is produced in India. Jute is cultivated in some lowland parts of Bengal, Bihar, Orissa, Assam and Uttar Pradesh of the country. West Bengal ranks first in the production of jute in India. Jute produces 73.95 percent of the country's total produce here. The second place is Bihar (13.02%). The central government is taking several initiatives to promote the production of jute in the country. One of them is – the Central Government has expanded the norms for mandatory packaging from jute bags and 100% food grains and 20 percent sugar will be packed in different types of jute bags. This will benefit the farmers and the laborers engaged in its construction.
