The government has approved a Rs 17,408.85 crore 'committed price support' to the Cotton Corporation of India (CCI) for seven cotton seasons from 2014-15 to 2020-21 (up to September 30, 2021). The decision was taken at the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi. The CCEA has approved incurring expenditure for reimbursing losses under MSP operations for cotton during the cotton season (October-September) 2014-15 to 2020-21.
In order to safeguard the interests of the cotton farmers, the government said the CCI procured cotton in large quantity during 2014-15 to 2020-21 as cotton prices touched the MSP prices. The procurement of cotton at MSP helped stabilise the cotton prices and alleviate farmer's distress. During cotton season 2020-21, area under cotton cultivation was 133 lakh hectares with estimated production of 360 lakh bales, which accounted for around 25 per cent of total global cotton production. The government fixes the MSP for seed cotton (kapas) on the basis of the recommendations of CACP.
In another decision, the Cabinet approved reservation norms for Jute Packaging Materials for Jute Year 2021-22. As per the reservation norms, Thakur said, 100 per cent foodgrains and 20 per cent of sugar will be packed in jute bags during Jute Year 2021-22 under JPM Act, 1987. The decision is likely to bring relief to 3,70,000 workers employed in jute mills and ancillary units.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: