Home / Knowledge / News / Textiles / Indian govt raises MSP on cotton by ₹1,130/quintal
Indian govt raises MSP on cotton by ₹1,130/quintal
05
Jul '18
Indian govt raises MSP on cotton by ₹1,130/quintal
Giving a major boost to the income of farmers, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all kharif crops for 2018-19 season. The MSP for both medium staple and long staple varieties of cotton has been increased by ₹1,130 per quintal.

“The decision of the CCEA is a historic one as it redeems the promise of the pre-determined principle of fixing the MSPs at a level of at least 150 per cent of the cost of production announced by the Union Budget for 2018-19. The Commission for Agricultural Costs and Prices (CACP) has recommended MSPs for all kharif crops broadly in line with the announced principle,” an official statement said.

For medium staple cotton, the MSP has been raised from ₹4,020 per quintal in 2017-18 season to ₹5,150 per quintal in 2018-19 season, an increase of 28.11 per cent.

Likewise, the MSP for long staple cotton has been increased from ₹4,320 per quintal in 2017-18 season to ₹4,450 per quintal in 2018-19 season, a rise of 26.16 per cent.

Return over cost would be 50.01 per cent for medium staple cotton and 58.75 per cent for long staple cotton, the statement said. It includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilisers, manures, irrigation charges, depreciation on implements and farm miscellaneous expenses, and imputed value of family labour. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Prime Minister's Office, UK

Textiles | On 15th Nov 2018

British PM May secures cabinet support on Brexit

The British cabinet on 14 November backed a draft withdrawal...

India expands paperless processing of export documents

Apparel/Garments | On 15th Nov 2018

India expands paperless processing of export documents

To improve ease of conducting business and promote paperless...

Pak textile mills assured of ECC decision implementation

Textiles | On 15th Nov 2018

Pak textile mills assured of ECC decision implementation

The Pakistani prime minister’s advisor for commerce, textile,...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


November 2018

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

news category


Related Categories:

Advanced Search