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Govt allocates Rs 14.73 bn to CCI to meet losses

Sep '09
Allocation of Rs.1473 crore under Non-Plan Grant to meet the losses in disposal of Cotton procured under Minimum Support Price (MSP) Operations by the Cotton Corporation of India(CCI).

In recognition of the importance for assuring a reasonable price to cotton farmers, motivating them to adopt improved technology and to promote investment in farm enterprises, Minimum Support Price (MSP) is fixed by the Government of India and the same is perceived by the cotton growers as a guarantee price for their produce.

The implementation of the decision will not only ensure remunerative returns to the cotton growers without quantitative restriction and devoid of exclusion but will also enable the Cotton Corporation of India (CCI) for smooth conduct of MSP Operations during the cotton season 2008-09. It will also enable the CCI to meet anticipated losses to be incurred on procurement of raw cotton from the farmers.

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