New Students Offer - Use Code HELLO

Register Now

Minimum Support Price for Jute Increased by 6%

Published on March 25, 2023
Current Context: The Economic Affairs department of government of India announced a 6% hike for FY23 in minimum support price (MSP) for raw jute .
Minimum Support Price for Jute Increased by 6%
  • It is at worth of Rs 5,050 per quintal in comparison to the previous season.
  • The hike is in accordance with the principle of fixing the Minimum support price. It is at a level of a minimum of 1.5 times of the cost of production compared. It was as announced in Budget 2018-19.
  • The Union minister for information and broadcasting , Anurag Thakur mentioned in the budget 2018-19.
  • A return of 63.20% over the all-India weighted average cost of production is resulted by the hike in MSP of raw jute. This hike would help 4 million farmers and millions of workers associated with the jute industry.
  • The government has kept reservations of 100% for food grains and20% for sugar to be packaged in jute bags.70% of the total production of jute goods is used for packaging of foodgrain as reserved by the government.


Q.1 Minimum support price for jute increased by _______
a. 6%
b. 3%
c. 5%
d. 7%

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu