India, March 18 -- The Government of India has issued a release:
In a significant step towards strengthening farmer welfare and advancing the vision of Aatmanirbhar Bharat, the Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Minimum Support Price (MSP) funding of Rs.1,718.56 crore to the Cotton Corporation of India (CCI) for the cotton season 2023-24. This funding aims to provide direct price support to cotton farmers across the country.
The MSP operations are undertaken to safeguard the interests of cotton farmers, particularly during periods when market prices fall below the MSP. These interventions play a crucial role in stabilising cotton prices, preventing distress sales, and ensuri...