MSP on raw jute approved by Cabinet to enhance quality, farmers' incomes: PM Modi

New Delhi [India], February 24 (ANI): Prime Minister Narendra Modi said on Tuesday that the Minimum Support Prices (MSP) of Raw Jute for Marketing season 2026-27, approved by the Union Cabinet today will not only promote higher production and better quality, but also enhance the incomes of farmers associated with this sector across the country.
Taking to social media platform X, PM Modi said, "We are leaving no stone unturned to make life easier for our jute-growing farmer brothers and sisters. In this direction, our government has taken an important decision to increase the Minimum Support Price (MSP) of raw jute. This will not only promote higher production and better quality, but also enhance the incomes of farmers associated with this sector across the country."
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the MSP of Raw Jute for Marketing season 2026-27. The MSP of Raw Jute (TD-3 grade) has been fixed at Rs 5,925 per quintal for 2026-27 season.
The government said this would ensure a return of 61.8 per cent over the all-India weighted average cost of production. The announced MSP of raw jute for Marketing season 2026-27 is in line with the principle of fixing MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.
The MSP of Raw Jute for Marketing season 2026-27 is an increase of Rs 275 per quintal over the previous Marketing season 2025-26.
Government has increased MSP of Raw jute from Rs 2400 per quintal in 2014-15 to Rs 5,925 per quintal in 2026-27, registering an increase of Rs 3,525 per quintal (2.5 times).
The MSP amount paid to Jute growing farmers during the period 2014-15 to 2025-26 was Rs 1342 Crore, while during the period 2004-05 to 2013-14, Rs 441 Crore amount was paid. (ANI)