Direct Benefit Transfer scheme for Cotton farmers too on anvil
Updated: Dec 08, 2015 12:14:04pm
New Delhi, Dec 8 (KNN) The centre is planning to introduce the Direct Benefit Transfer Scheme for cotton farmers soon following increasing demand for the higher minimum support price for cotton.
Speaking at the inauguration function of 74th plenary of the International cotton advisory committee in Mumbai on Monday the Minister for states for textiles Santosh Gangwar has said that the Centre has kept the interest of cotton growers in mind and increased the Minimum Support Price (MSP) for long staple cotton to Rs 4,100 for the 2015-16 marketing season.
Under the scheme the cotton farmers will directly get their amount which would be the difference between the MSP (Minimum support price) and the market price, should the market price fall below the MSP.
An experimental project is already going on under the Direct Payment Deficiency System (DPDS) for paying MSP guarantee in Maharashtra’s Hinganghat Taluka.
For availing of the benefit, farmers will have to present proof of cotton sold at Agriculture Produce Market Committee yards, plus other papers such as ownership document, yield estimation and other details, an official release said.
In the 2014-15 marketing season that ended in October 2015, CCI had procured a record 8.6 million bales of cotton across the country, the release added.
The Ministry of Textiles has estimated cotton output in India to decline this year to 36.5 million bales, as compared to 38 million bales last year. This is due to a fall in sowing area to 11.76 million hectares, from 13.08 million hectares last year, the release added. (KNN Bureau)
Speaking at the inauguration function of 74th plenary of the International cotton advisory committee in Mumbai on Monday the Minister for states for textiles Santosh Gangwar has said that the Centre has kept the interest of cotton growers in mind and increased the Minimum Support Price (MSP) for long staple cotton to Rs 4,100 for the 2015-16 marketing season.
Under the scheme the cotton farmers will directly get their amount which would be the difference between the MSP (Minimum support price) and the market price, should the market price fall below the MSP.
An experimental project is already going on under the Direct Payment Deficiency System (DPDS) for paying MSP guarantee in Maharashtra’s Hinganghat Taluka.
For availing of the benefit, farmers will have to present proof of cotton sold at Agriculture Produce Market Committee yards, plus other papers such as ownership document, yield estimation and other details, an official release said.
In the 2014-15 marketing season that ended in October 2015, CCI had procured a record 8.6 million bales of cotton across the country, the release added.
The Ministry of Textiles has estimated cotton output in India to decline this year to 36.5 million bales, as compared to 38 million bales last year. This is due to a fall in sowing area to 11.76 million hectares, from 13.08 million hectares last year, the release added. (KNN Bureau)
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