It would benefit the jute industry, which supports the livelihood of around 40 lakh farm families and provides direct employment to 3.7 lakh workers in organised mills and in diversified units including tertiary sector and allied activities, it said.
"The CCEA has increased the MSP to a level of Rs 3,500 per quintal for 2017-18 season, which indicates an increase of Rs 300 (9.4 per cent) over the previous year.
"During last three years (2015-16, 2016-17 & 2017-18), the government has increased the MSP for jute from Rs 2,700 to Rs 3,500 (29.6 per cent) as compared to increase from Rs 2,200 to Rs 2,400 (9.1 per cent) in the preceding three years (2012-13, 2013-14 & 2014-15)," said the communique.
Jute is mainly used as raw material for the packaging industry. The jute farm families are mainly concentrated in West Bengal, Bihar and Assam which account for over 95 per cent of the area as well as jute production in the country.
As per the release, new varieties of jute, namely, JRO-204, JBO-2003, JRS-517, JRC-532 and JRO-2407 are being promoted by providing support for seeds production under National Food Security Mission (NFSM)-Commercial Crops.
The National Seeds Corporation Ltd has entered into agreement for promotion of new varieties of jute seeds in the jute-growing states.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.