How is the minimum support price determined for raw jute by the Indian government
Explore the process by which the Indian government decides the minimum support price for raw jute.
- The Indian government considers various factors while determining the minimum support price (MSP) for raw jute.
- Key factors include the cost of production, domestic and international market prices, demand-supply dynamics, input prices, and overall economic conditions.
- Government-appointed committees and experts analyze these factors to recommend a fair MSP for raw jute.
- Consultations with stakeholders such as farmers, industry representatives, and trade associations are also conducted to gather insights.
- Based on these inputs, the Cabinet Committee on Economic Affairs finalizes the MSP for raw jute, ensuring a balance between farmer interests and market dynamics.
Answered
a year ago