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English Release 22-August 2014
Date Month Year
  • President's Secretariat
  • President of India to visit West Bengal on August 23 and 24
  • President calls on council of IITs to draw up a roadmap for governance in line with global practices
  • Vice President's Secretariat
  • Delegation of Gujjar and Bakkarwal Youths from Jammu & Kashmir Calls on Vice President
  • Prime Minister's Office
  • PM condoles the passing away of Shri UR Ananthamurthy
  • Haryana CM calls on PM
  • Shri Saurabh Patel, Minister, Govt of Gujarat, calls on PM
  • Governor of Andhra Pradesh and Telangana calls on PM
  • PM's address at the Conference of Chairmen of Boards of Governors, and Directors of IITs at Rashtrapati Bhawan
  • Min of Agriculture
  • Kharif Sowing Crosses 935.06 Lakh Hectare Mark
  • Ministry of Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Health and Family Welfare
  • 589 Passengers Being Tracked for Ebola Virus Disease
  • Min of Home Affairs
  • Home Minister Reviews Uttar Pradesh Flood Situation
  • Min of Information & Broadcasting
  • Government committed to development of North Eastern Region
  • Doordarshan to host ABU-ROBOCON 2014 International Contest at Pune from 22nd-26th August, 2014
  • Min of Micro,Small & Medium Enterprises
  • The Minister of MSME holds interactive Conference with State Industries/ MSME Ministers and Secretaries.
  • Min of Minority Affairs
  • J&K Vichar Manch Delegation Calls on Dr. Najma A. Heptulla
  • 2-Member Bahai Delegation Calls on Dr. Najma A. Heptulla
  • Min of Personnel, Public Grievances & Pensions
  • Regarding Civil Services Examination, 2015
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Production Performance Oil & Natural Gas Sector for the month of July, 2014
  • Global crude oil price of Indian Basket decreased to US$ 99.97 per bbl on 21.08.2014
  • Ministry of Railways
  • Railway Minister Gives Away Cash Award to Railway Sportspersons for Winning Medals at CWG-2014, Glasgow
  • Min of Science & Technology
  • Government to Increase Funding for Research –Dr.Jitendra Singh
  • Collaborative Research
  • Min of Social Justice & Empowerment
  • States Asked to Speed up Development of SC/OBC/Senior Citizen and Rehabilitation of Drug Addict Says Minister for SJE
  • Ministry of Tourism
  • Union Tourism Ministry simplifies procedure for Hotel classification and re-classification
  • Tourism Ministry delinks Hotel classification from Liquor Service
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on August 21, 2014
  • Ghagra and Rapti Flowing in High Flood Situation

Previous Date

 
Ministry of Textiles07-December, 2011 20:45 IST
Grant of subsidy to Jute Corporation of India to maintain its infrastructure for MSP (Minimum Support Price) operations
The Cabinet Committee on Economic Affairs today approved the following:

(a) To provide subsidy to Jute Corporation of India on continuous basis to off-set the losses on account of MSP operations. The quantum of subsidy will include the difference between the expenditure incurred on MSP raw jute upto the point of sale and sale price of MSP raw jute. The reimbursement of fixed overhead cost would be maintained at a level of Rs.55 crore from the jute year 2011-12. It will be granted every year as preparedness expenses for conducting MSP operation, therefore, to be paid even for those years when there is no MSP operation.

(b) To regularise the subsidy given to Jute Corporation of India during 2009-10 and 2010-11 (Rs.36.59 crore and Rs.30crore respectively) and release the balance amount due for 2010-11 (Rs.6.59 crore) to make it at the same level as that of the previous years.

(c) To provide one-time government guarantee upto Rs.150 crore along with accrued interest, as applicable, for 10 years with effect from the financial year 2011-12 to public sector banks for availing of working capital loan facility as and when required by the Jute Corporation of India Ltd. for conducting the MSP operations.

This decision will provide financial support to Jute Corporation of India to protect the interest of the jute growers through procurement of raw jute under the MSP fixed by the Government of India and also to stabilize the raw jute market for the benefit of the 40 lakh farm families and the jute economy as a whole.

***


SH/SKS
(Release ID :78273)

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