Home / Knowledge / News / Textiles / Gujarat announces Rs 110 bonus on cotton MSP
Gujarat announces Rs 110 bonus on cotton MSP
17
Dec '15
The Gujarat government has announced a bonus of Rs 110 per 20 kg of cotton. Cotton farmers will now get and additional Rs 110 per 20 kg on the Minimum Support Price (MSP) of Rs 810 per 20 kg when the crop is sold to government procurement agency, Cotton Corporation of India (CCI).

The bonus scheme will be applicable from December 18 on cotton procured by CCI. According to trade sources, CCI has so far procured about 5,000 bales of cotton from Gujarat. With the additional financial support by the state government, farmers will get Rs 920 per 20 kg. But raw cotton prices are already ruling at Rs 925-930 per 20 kg.

The Congress termed the move as politically-coloured given the setback suffered by the ruling BJP in recently held polls to local bodies. The opposition party the bonus as "marginal" and demanded a minimum MSP of Rs 1,500.

The Congress party said farmers would not benefit from the new announcement, and moreover, most farmers have already sold their cotton in the open market.

The Bharatiya Kisan Sangh welcomed the decision but termed it as "late".

BKS leader Magan Patel had the decision been taken earlier, then those farmers who have already sold their produce in the market would also have benefited. (SH)

Fibre2Fashion News Desk – India


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