Govt. Plans On Hiking MSP Of Jute

  • On Wednesday, the Union Cabinet is believed to have considered a proposal to raise the support price for procuring raw jute during its meeting.

  • The Minimum Support Price (MSP) of raw jute is said to be ₹4,225 per quintal for the 2020-21 season.

  • According to the sources, that the proposal to increase the MSP of raw jute for 2021-22 was on the agenda of the Cabinet Committee on Economic Affairs. However, it can not be said for sure whether a decision has been taken on hiking the MSP.

  • Because of the model code conduct being in place for the assembly election in West Bengal, which is a major jute producing state, an official announcement about the decision is unlikely to be made.

  • The price support operations are undertaken by the Jute Corporation of India (JCI) which is the central government’s nodal agency.

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