Home / Knowledge / News / Textiles / Direct Benefit Transfer scheme for cotton farmers
Direct Benefit Transfer scheme for cotton farmers
09
Dec '15
Courtesy: PIB
Courtesy: PIB
The Central Government is planning to introduce Direct Benefit Transfer scheme the cotton farmers in the face of falling global cotton consumption and the demand for higher Minimum Support Price for cotton emanating from some states.

Inaugurating the 74th Plenary of the International Cotton Advisory Committee in Mumbai, Union Textiles Minister Santosh Kumar Gangwar said the Centre has kept the cotton growers interest in mind and increased the MSP for long staple cotton to Rs 4,100 for the 2015-16 marketing season, a Textiles Ministry statement said.

A pilot project under the Direct Payment Deficiency System (DPDS) for paying MSP guarantee for the cotton farmers has been initiated at Hinganghat taluka of Maharashtra. Under this system, the farmers will directly get the amount which is the difference between the MSP and the market price, should the market price fall below the MSP. For availing of the benefit, farmers would have to present proof of cotton sold at Agriculture Produce Market Committee yards, plus other papers such as ownership document, yield estimation and other details. If the pilot is successful, the DPDS would be rolled out in all cotton growing regions. Textiles Secretary S K Panda said the new move would benefit the farmers substantially.

The cotton procurement through the traditional route of Cotton Corporation of India (CCI) or state federations has been subdued this season and is expected to be lower than last year due to firm prices, which are ruling above MSP. In the 2014-15 marketing season that ended in October 2015, CCI had procured a record 8.6 million bales of cotton across the country.

However, the International Cotton Advisory Committee has revised downward world cotton consumption, following a drastic slowdown in China, which is the largest consumer of cotton. Cotton Consumption in China is expected to be 7.33 million tonnes against 7.52 million tonnes last year. The cotton consumption in India is expected to go up by a modest 3 per cent from 5.4 million tonnes last year to 5.49 million tonnes this year.

The Textiles Ministry has estimated cotton output in India to decline this year to 36.5 million bales, as compared to 38 million bales last year. This is due to a fall in acreage to 11.76 million hectares, from 13.08 million hectares last year. The yield however is actually estimated to rise significantly this year, to 527.49 kg per ha from 493.77 kg last year, on sowing of higher yielding seed. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X