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22nd JANUARY 2025 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS


22nd JANUARY 2025 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS

The Cabinet Committee on Economic Affairs has approved the Minimum Support Price (MSP) for raw jute for the marketing season 2025-26
  • The Minimum Support Price (MSP) for raw jute (DD-3 grade) for the marketing season 2025-26 has been fixed at Rs. 5,650/- per quintal. This will ensure a return of 66.8 per cent over the average cost of production.
  • This is in line with the policy of fixing the MSP at a level of at least 1.5 times the average cost of production, as announced by the Government in the Budget 2018-19. The minimum support price for raw jute for the 2025-26 marketing season is Rs. 315/- higher than the previous marketing season 2024-25.
  • The Central Government has increased the minimum support price for raw jute from Rs. 2400/- per quintal in 2014-15 to Rs. 5,650/- per quintal in 2025-26. 
  • The minimum support price provided to jute farmers during the period 2014-15 to 2024-25 was Rs. 1300 crore and from 2004-05 to 2013-14 it was Rs. 441 crore.
  • The livelihood of 40 lakh farming families depends directly or indirectly on the jute industry. About 4 lakh workers are directly employed in jute mills and jute trade. 
  • Last year, jute was procured from 1.7 lakh farmers. 82% of jute farmers are in West Bengal. The Jute Corporation of India (JCI) is the central government body responsible for implementing price support measures.

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