Home Business Union Cabinet hikes MSP of raw jute by 300 per quintal

Union Cabinet hikes MSP of raw jute by 300 per quintal


Union Cabinet today approved hike of 300 rupees per quintal in Minimum Support Price of raw jute for 2017-18 season taking it to a level of 3500 rupees.

The decision will benefit the jute industry which supports the livelihood of 40 lakh farm families and provides direct employment to 3.7 lakh workers. These families are mainly concentrated in West Bengal, Bihar and Aasam.

The Cabinet also approved setting up of Government e-Marketplace Special Purpose Vehicle (GeM SPV) as a national portal for procurement of goods and services required by the Central and State government organizations.

The GeM SPV shall provide an end to end online marketplace for central and state government departments, central and state PSUs, autonomous bodies and local bodies for procurement of common use goods and services in a transparent and efficient manner.

The Directorate General of Supplies and Disposal (DGS&D) will be wound up and it will cease to function by 31st of October this year.

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