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The ongoing farmers' protest underscores the clash between economic and social objectives, particularly regarding the legal guarantee of minimum support prices The farmer is the only man in our economy who buys everything at retail, sells everything at wholesale, and pays the freight both ways,
The jute sector in India experienced a mixed year in 2023, with a bumper cash crop harvest but a mid-season demand slump. However, government intervention revived hopes, with sustained orders and supportive policies from the Centre. The Indian Jute Mills Association (IJMA) chairman Raghav Gupta said that the outlook remains steady, with a strong initial supply followed by sluggish demand between September and November.
The Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Price (MSP) for Raw Jute for 2023-24 season. The approval is based on recommendations of the Commissio
The release was approved by the Cabinet on Friday for Central Government employees and Dearness Relief to Pensioners, due from January 1, 2023.
The announced MSP of raw jute for 2023-24 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in the Budget 2018-19, an official release said.