"MSP hike to boost Jute farmers' income, promote economic empowerment": Rajnath Singh

New Delhi [India], February 24 (ANI): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Price (MSP) of raw jute to ₹5,925 per quintal, Defence Minister Rajnath Singh announced on Tuesday.
Sharing the decision in a post on X, the Defence Minister said the move would significantly enhance the income of jute farmers and strengthen their economic position.
"In the meeting of the Central Cabinet chaired by Prime Minister Shri @narendramodi, it has been decided to increase the MSP of raw jute by two and a half times to ₹5,925 per quintal. This decision will increase the income of jute farmers and promote the economic empowerment of farmers," Singh wrote.

प्रधानमंत्री श्री @narendramodi की अध्यक्षता में हुई केंद्रीय कैबिनेट की बैठक में कच्चे जूट की MSP को ढ़ाई गुना बढ़ाकर ₹5,925 प्रति क्विंटल करने का निर्णय लिया गया है। यह निर्णय जूट किसानों की आमदनी में वृद्धि करेगा और किसानों के आर्थिक सशक्तिकरण को बढ़ावा देगा। pic.twitter.com/WMSkTEJcdU

— Rajnath Singh (@rajnathsingh) February 24, 2026

The Cabinet Committee on Economic Affairs, chaired by PM Modi, on Tuesday approved Minimum Support Prices (MSP) of Raw Jute for the Marketing season 2026-27.
As per an official release from Ministry of Agriculture & Farmers Welfare, the MSP of Raw Jute (TD-3 grade) has been fixed at Rs 5,925/- per quintal for the 2026-27 season. This would ensure a return of 61.8 percent 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 the Marketing season 2026-27 is an increase of Rs 275/- per quintal over the previous Marketing season 2025-26. The government has increased the 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, the amount paid was Rs 441 Crore.
The Jute Corporation of India (JCI) will continue as the Central Government Nodal Agency to undertake Price Support Operations, and the losses incurred, if any, in such operations, will be fully reimbursed by the Central Government, a release added. (ANI)