Introduction: The Central Government’s recent announcement of an increase in the Minimum Support Price (MSP) for Raw jute has brought relief and joy to jute farmers across the country. This article delves into the details of this significant development and its implications for the agricultural sector, particularly for jute farmers.
Significance of the MSP Increase for Jute Farmers: The MSP increase for raw jute is a crucial step by the government, especially in light of the upcoming Lok Sabha elections. It reflects the government’s commitment to supporting farmers and ensuring their welfare.
Details of the MSP Increase: The Cabinet Committee on Economic Affairs, under the leadership of Prime Minister Narendra Modi, has approved a substantial increase in the MSP of raw jute for the 2024-25 season. The MSP has been increased by Rs 285 per quintal, demonstrating a 122 percent increase over the last decade.
Government’s Basis for the Raw Jute MSP Increase:
The decision to increase the MSP is based on the recommendations of the Commission for Agricultural Costs and Prices (CACP). The government aims to ensure that the MSP is at least 1.5 times the all India weighted average cost of production, as announced in the Budget 2018-19.
Impact of the MSP Increase on Farmers: The MSP increase is expected to benefit jute farmers significantly, providing them with a fair price for their produce and ensuring a return of 64.8 percent on the all India weighted average cost of production.
Procurement and Benefits for Farmers: In the current season, the government has procured a record quantity of raw jute, benefiting over 1.65 lakh farmers. The Jute Corporation of India (JCI) will continue to function as the nodal agency for price support related functions.
Conclusion: The increase in the MSP for jute by the Central Government is a commendable step towards supporting farmers and ensuring their economic well-being. It reflects the government’s commitment to the agricultural sector and its recognition of the crucial role played by farmers in the country’s economy.
FAQs:
- How much has the MSP for raw jute been increased by?
- The MSP for raw jute has been increased by Rs 285 per quintal for the 2024-25 season.
- What is the government’s basis for increasing the MSP?
- The government has increased the MSP based on the recommendations of the Commission for Agricultural Costs and Prices (CACP), aiming to ensure a return of 64.8 percent on the all India weighted average cost of production.
- How will the MSP increase benefit jute farmers?
- The MSP increase will ensure that jute farmers receive a fair price for their produce, providing them with economic stability and security.
- What is the current procurement status of raw jute?
- In the current season, the government has procured a record quantity of raw jute, benefiting over 1.65 lakh farmers.
- How does the government plan to continue supporting farmers in the future?
- The government is committed to supporting farmers and ensuring their welfare, as reflected in its continuous efforts to increase MSPs and provide other forms of support.
