<span style="color: #222222;">The Cabinet Committee on Economic Affairs, CCEA chaired by Prime Minister Narendra Modi, has approved the Minimum Support Price, MSP for Raw Jute for 2022-23 season. The approval is based on recommendations of the Commission for Agricultural Costs and Prices. <br />''<br />''The MSP of Raw Jute, TDN3 equivalent to TD5 grade has been fixed at  4750 rupees per quintal for 2022-23 season. This is an increase of  250 rupees over the previous year. This will ensure a return of 60 point, 53 percent over all India weighted average cost of production. The announcement is in line with the principle of fixing the 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.<br />''<br />''It assures a minimum of 50 percent as margin of profit. It is also one of the important and progressive steps towards ensuring better remunerative returns to the jute growers and to incentivize quality jute fibre.<br />''<br />''The Jute Corporation of India JCI will continue as 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.</span><br />