ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Samco Acers
  • Samco Mission Ace The Index
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

Cabinet raises Minimum Support Price for raw jute by Rs 250 per quintal for 2022-23 season

"The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP)," I&B Minister Anurag Thakur told reporters.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Cabinet raises Minimum Support Price for raw jute by Rs 250 per quintal for 2022-23 season
The MSP of raw jute (TD-3 equivalent to earlier TD-5 grade) has been fixed at Rs 5050 per quintal for 2023-24 season to ensure a return of 63.20 percent over the all-India weighted average cost of production.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the Minimum Support Price (MSP) for raw jute for 2023-24 season based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) on Friday.

The MSP of raw jute (TD-3 equivalent to earlier TD-5 grade) has been fixed at Rs 5050 per quintal for 2023-24 season to ensure a return of 63.20 percent over the all-India weighted average cost of production. 

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 official press release stated that the measure has been taken to assure a minimum of 50 percent as margin of profit for jute farmers. It is one of the important and progressive steps towards ensuring better remunerative returns to the jute growers and to incentivize quality jute fibre, the release further stated.

"The MSP of raw jute (TDN3 equivalent to TD5 grade) has been fixed at Rs 4,750 per quintal for 2022-23 season with an increase of Rs 250 over the previous year. This would ensure a return of 60.53 per cent over all India weighted average cost of production," the release said.

"The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP)," I&B Minister Anurag Thakur told reporters.

The minister said that the decision would ensure a return of 63.2 per cent over the all-India weighted average cost of production.

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 official release stated.

The Jute Corporation of India (JCI) will continue as 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.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Raw JuteCabinet
Written By: ZeeBiz WebTeam
Updated: Fri, Mar 24, 2023
10:53 pm
ZeeBiz WebDesk
RELATED NEWS
Mandatory Jute packaging deadline extended till December 2022; THESE 3 stocks in focus Mandatory Jute packaging deadline extended till December 2022; THESE 3 stocks in focus
Centre decides to lift the price capping of raw jute from May 20 Centre decides to lift the price capping of raw jute from May 20
Gloster, Cheviot Company and Ludlow Jute in focus as government curbs stock limit of raw jute Gloster, Cheviot Company and Ludlow Jute in focus as government curbs stock limit of raw jute

LATEST NEWS

IEX shares roiled: What is 'Market Coupling' mechanism and what should one do with the stock?

Apple unveils Vision Pro mixed reality headset's refresh rate

CISCO employees slam department of California state govt for being dishonest in handling caste discrimination allegations

HAL hits record high as firm's board to consider stock split on June 27 | Watch here

Tata Power shares surge after company gets new project from Tata Steel

IEX, Hindustan Aeronautics, Bajaj Auto, Hero MotoCorp, PTC Industries, and Tata Power among top stocks to watch

FIRST TRADE: Sensex up 100 pts, Nifty above 16,650; Indian Energy Exchange sinks 10%

Logistics firm Western Carriers files IPO papers with Sebi

BJP MLA gets relief from HC over controversial remarks against Karnataka CM

Aether Industries shares hit all-time high after specialty chemical maker inks pact with Saudi Aramco Tech

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV