Explore Business Standard
Don’t miss the latest developments in business and finance.
The government on Wednesday 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. 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. The CCEA has given its approval for committed price support of Rs 17,408.85 crore to the CCI for the cotton seasons from 2014-15 to 2020-21 (up to September 30, 2021), an official release said. 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. Briefing media on the Cabinet decisions, I&B Minister ...
India's cotton output is likely to decline by 10 per cent from the pre-harvest forecast of a bumper production of 37.7 million bales (170 kg each) for 2017-18. This is due to extensive attack of the pink bollworm in major growing states.Industry veterans gathered at the 9th Asian Textiles Conference, organised by the Confederation of Indian Textile Industry on Wednesday, estimated a massive impact on output this year, due to the infestation across Maharashtra, Telangana, Andhra and Karnataka. With this, India's cotton output for the ongoing season is likely to remain flat at around 34.5 million tonnes from 2016-17, despite a significant increase in sowing during the kharif season.The decline in overall output has prompted the government to reconsider its dependence on the widely used Bacillus thuringiensis (Bt) seed. Central Institute for Cotton Research has developed a variety of medium and long staple varieties to withstand heat and flood, to get commercialised in the next ...