Tribune News Service

New Delhi, November 10

The government today approved Rs 17,408.85 crore committed price support to the Cotton Corporation of India (CCI) to meet the losses due to procurement at minimum support price (MSP) and has announced reservation norms for jute packaging materials for jute year 2021-22 under the JPM Act, 1987, by fixing 100 per cent for foodgrain and 20 per cent for sugar.

Noting that “the committed price support” to the CCI is for seven cotton seasons from 2014-15 to 2020-21, Information & Broadcasting Minister Anurag Singh Thakur said the decision was taken at the meeting the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.

He said the CCEA had approved incurring expenditure for reimbursing losses under MSP operations for cotton during the cotton season (October-September) 2014-15 to 2020-21. The CCEA has given its approval for committed price support of Rs 17,408.85 crore to the CCI for the cotton seasons from 2014-15 to 2020-21 (up to September 30, 2021), the minister said, adding that it was done to safeguard the interests of cotton farmers.

The CCEA also approved reservation norms for jute packaging materials for 2021-22. As per the reservation norms, Thakur said 100 per cent foodgrain and 20 per cent of sugar would be packed in jute bags during 2021-22 under the JPM Act, 1987.

Rates for ethanol from sugarcane hiked

The govt on Wednesday hiked the price of ethanol extracted from sugarcane for blending in petrol by up to Rs1.47 per litre for 2021-22 marketing year starting December, as part of its target to achieve 20 per cent blending of the biofuel by 2025. Now, the price of ethanol extracted from sugarcane juice will be Rs63.45 per litre from the existing Rs62.65 per litre. TNS