Saturday, January 31, 2015

Grant of subsidy to Jute Corporation of India to maintain its infrastructure for MSP operations

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved providing financial support to the JCI, it has been decided to provide subsidy to Jute Corporation of India (JCI) on a continuous basis to off-set the losses on account of Minimum Support Price (MSP) operations by JCI. The quantum of subsidy will include the difference between the Purchase and Sale Price of MSP Raw Jute. The quantum of subsidy will also include fixed overhead costs incurred by JCI in maintaining its infrastructure for MSP operation. The reimbursement of fixed overhead cost would be maintained albeit at a reducing amount as per the details given below:

In Rs. Crore

 

2014-15

2015-16

2016-17

2017-18

Annual subsidy/ Grant for maintaining its infrastructure for MSP operations.

55.00

52.11

49.38

46.78

The decision will provide financial support to Jute Corporation of India to protect the interest of the Jute Growers through procurement of Raw Jute under the MSP fixed by the Government of India and also to stabilize the raw jute market for the benefit of the 40 lakh farm families and the jute economy as a whole.

JCI is the Price Support Agency of the Govt. of India for jute to protect the interest of the Jute Growers through procurement of Raw Jute under the MSP fixed by the Govt. of India from time to time and also to stabilize the raw jute market for the benefit of the jute farmers and the jute economy as a whole. To enable JCI to conduct MSP operation and be in preparedness for MSP at the start of every year, yearly grant is provided to the JCI to meet its operational expenditure & overheads for MSP preparedness.

Related Posts:

  • Will UDF deliver?UDF just managed a victory. LDF will be a strong opposition through out this 5 years period. Can the UDF deliver the promise or will it be an yet another forgotten manifesto.   UDF Election Manifesto for 2011 state el… Read More
  • Mamata has the mandateMamata has broken a 34 year long communist rule in Bengal. The main strategy during the election was development and care. Will she be able to delver development in Bengal, the question is out there and may be after 5 years w… Read More
  • Midnight arrest of democracyCNN-IBN has reported that kapil sibal said “ swami who teaches yoga asanas to the country shouldn't teach political asanas”  and the mid night arrest followed it… is it democratic?, well many have argued that by going on… Read More
  • Kanimozhi still walks free… Kanimozhi’s bail plea is adjourned till 20 of this month. Public would certainly have a suspicion on the adjournment, this didn’t happen to all the other accused which includes high profile Raja who was ex-minster. Is there … Read More
  • Is anna hazare trustworthy ?Jan lokpal bill movement had create a fresh wave and some amount of confidence to the citizens of this country. Soon after the governments acceptance of the demand there was a CD controversy. The Bushans were accused or alleg… Read More

0 comments: