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Cabinet Committee on Economic Affairs approves increase in MSP for Raw Jute by Rs 200 for 2018-19 season

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The Cabinet Committee on Economic Affairs (CCEA) today approved the increase in the Minimum Support Price (MSP) for Raw Jute by 200 rupees for 2018-19 season.

The MSP for Fair Average Quality of Raw Jute has now been fixed at 3700 rupees per quintal. The MSP of Raw Jute is expected to ensure appropriate minimum prices to the farmers and step up investment in Jute cultivation and thereby production and productivity in the country.

The CCEA also gave nod to Centrally Sponsored Scheme of National Bamboo Mission, NBM, under National Mission for Sustainable Agriculture during remaining period of Fourteenth Finance Commission. The Mission will ensure holistic development of the bamboo sector by addressing complete value chain and establishing effective linkage of producers with industry.

The committee also approved Empowerment of Executive Committee for formulation of guidelines of the NBM. An outlay of 1290 crore rupees is provisioned for implementation of the Mission during the remaining period of 14th Finance Commission.

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