The Central Government has rejected the West Bengal government's plea for providing a subsidy of Rs. 300 per quintal above the minimum support price (MSP) for raw jute.
While announcing that the State government will pay an incentive of Rs. 100 per quintal over the MSP, the Mamata Banerjee-led West Bengal government had asked the Centre to provide extra support as the cost of producing a quintal of raw jute is Rs. 1,900-1,950, whereas the MSP is Rs. 1,700 per quintal.
Chief Minister Mamata Banerjee had recently apprised about the plight of jute growers in the State to Finance Minister Pranab Mukherjee. A majority of the around four million jute growers in India are in West Bengal.
Both India and the neighbouring Bangladesh have recorded a bumper jute crop this year. It is assumed that many small cultivators would have already sold off their produce as the crop is generally harvested during August to October.
Fibre2fashion News Desk - India
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