Government increases minimum support price for jute
The Hindu
‘New MSP for raw jute for 2022-2023 season is ₹250 higher than a year earlier’
The Cabinet Committee on Economic Affairs on Tuesday approved the Minimum Support Price (MSP) for raw jute for the 2022-2023 season.
According to an official release, the MSP of raw jute (TDN 3 equivalent to TD 5 grade) has been fixed at ₹4,750 a quintal for 2022-2023 season, which is ₹250 higher than the previous season. “This would ensure a return of 60.53 % over All India weighted average cost of production,” it said.
The announced price is in line with the principle of fixing the MSP at a level of at least 1.5 times of the all-India weighted average cost of production as announced by the government in the 2018-2019 Budget and is based on the recommendations of the Commission for Agricultural Costs and Prices. It assures a minimum of 50% as margin of profit, the release said.
The Jute Corporation of India (JCI) will continue as the central government nodal agency to undertake the price support operation. In case of any losses in the operation, they would be fully reimbursed by the central government.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.
Sterling and Wilson Renewable Energy Ltd. secures ₹1,200 crore order for 500 MW Solar PV project in Gujarat.