Cabinet briefing highlights: Govt hikes MSP of milling copra by Rs 375 per quintal
New Delhi, Jan 27: The government on Wednesday approved an increase in the minimum support price (MSP) of milling copra by Rs 375 per quintal and ball copra by Rs 300 per quintal to boost farmers'' income.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for the minimum support prices (MSPs) of copra for 2021 season.
The MSP for fair average quality (FAQ) of milling copra has been increased to Rs 10,335 per quintal from Rs 9,960 per quintal for 2020 season, while the MSP for ball copra has been increased to Rs 10,600 per quintal from Rs 10,300 per quintal last year.
Briefing the Cabinet decision, Information and Broadcasting Minister Prakash Javadekar said the MSP of milling copra is higher by 52 per cent than the production cost, while the support price of ball copra is 55 per cent higher.
The increase in copra MSP for 2021 season is in line with the principle of fixing the MSP at a level of at least 1.5 times the all India weighted average cost of production, which was announced by the government in the Budget 2018-19.
Javadekar said the market prices are generally higher than the MSP, but if rates fall below the support price then the government agencies buy the product to safeguard the interest of farmers.
National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumer Federation of India Ltd (NCCF) are central nodal agencies to undertake price support operations at the MSP in the coconut growing states.
Cabinet briefing highlights
- India is number one in production and productivity of copra in the World. It is mainly grown in the 12 coastal states.
- The government has approved an increase in the MSP of copra by Rs. 375 from 2020 to Rs. 10,335 per quintal as part of its effort to boost farmers' income.
- The new MSP for copra will impact the farmers of 12 coastal states
- Cabinet approved industrial corridor nodes at Krishnapatnam and Tumakuru under CBIC.
- Multi-Modal Logistics Hub and Multi Modal Transport Hub (MMTH) at Greater Noida have also been approved.
- The proposals have total estimated cost of Rs. 7,725 crore and an estimated employment generation of more than 2.8 lakh people.
- The Cabinet approved the export of Akash Missile System and a Committee for faster Approvals has also been created.
- MoU between India and Bhutan on co-operation in the peaceful usesof outer space has also been approved.
- Approval to the opening of Indian Missions in Estonia, Paraguay and Dominican Republic
- Union Cabinet approved modified scheme to enhance ethanol distillation capacity in the country for producing 1st Generation (1G) ethanol from feedstocks such as cereals (rice, wheat, barley, corn & sorghum), sugarcane, sugar beet etc
- Cabinet also approved deepening and optimization of inner harbour facilities including development of western dock on Build, Operate and Transfer (BOT) basis under PPP mode to handle cape size vessels at Paradip Port. The estimated cost of the project is Rs. 3,004.63 crore.