The Gujarat government has declared a bonus of Rs 100 per 20 kg for cotton to be paid to farmers over and above the minimum support price (MSP).
The bonus of Rs 100 per 20 kg for cotton will help cotton farmers get remunerative prices for their produce, an official release quoted Chief Minister Vijay Rupani as saying here last night.
Rupani was here to attend several programmes.
The bonus will be paid over and above the MSP declared by the government and will be given to farmers who sell their produce to the Cotton Corporation of India, the release said.
Gujarat produces three varieties of cotton whose MSPs range from Rs 804 to Rs 864 per 20 kg. The bonus amount will be the same for all the varieties, it said.
The move will put a financial burden of Rs 1,250 crore on the state exchequer, the release added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)