New Delhi, March 19 -- The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved Minimum Support Price (MSP) funding of Rs 1,718.56 crore to the Cotton Corporation of India (CCI) for the 2023 24 cotton season to provide direct price support to farmers.
The funding is aimed at strengthening MSP operations, which are designed to protect farmers when market prices fall below the prescribed support level.
These interventions help stabilise prices, prevent distress sales and ensure remunerative returns, thereby contributing to income security in cotton-growing regions.
Cotton continues to be a key cash crop, supporting the livelihoods of around 60 lakh farmers and providing employment to several milli...