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Cabinet approves MSP of Rs 3,950/quintal for raw jute

IANS  |  New Delhi 

The on Wednesday approved an increase in the (MSP) for raw by Rs 250 to Rs 3,950 per quintal for 2019-20 season.

The new MSP would yield returns of 55.81 per cent over the production cost of fair average quality of raw jute, which the government said would ensure appropriate minimum prices to the farmers and step up investment in cultivation and thereby production and productivity in the country.

The MSP of raw in 2018-19 was Rs 3,700 per quintal.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 22:30 IST
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