Govt hikes support price for Tosa desi variety of jute
The government on Wednesday increased the minimum support price (MSP) for Tosa Desi-5 variety of raw jute by Rs 195 to Rs 1,250 per quintal for the 2008-09 season.
By TNN |
NEW DELHI: The government on Wednesday increased the minimum support price (MSP) for Tosa Desi-5 variety of raw jute by Rs 195 to Rs 1,250 per quintal for the 2008-09 season.
“The cabinet committee on economic affairs (CCEA) approved the MSP of raw jute for 2008-09 season at Rs 1,250 per quintal for Tosa Desi-5 grade of jute ex-Assam as against the MSP of Rs 1,055 per quintal fixed in the previous year,” finance minister P Chidambaram told the media after the CCEA meeting.
The increased MSP is expected to encourage farmers to invest more in improving the quality and yield of jute in the country, he added. Meanwhile, the corresponding MSP for other varieties and grades of raw jute across locations would be fixed by the ministry of textiles keeping in view the aggregate scores assigned to different grades, he added.
The Jute Corporation of India (JCI) would continue to act as the nodal agency to undertake price support operations, while the losses incurred, if any, would be reimbursed by the Centre, he added.
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