Sighting decline in world cotton consumption and the demand for higher Minimum Support Price for cotton from some states, the Indian government is planning to introduce Direct Benefit Transfer scheme for the cotton farmers.
Speaking at the inauguration of the 74th Plenary of the International Cotton Advisory Committee in Mumbai, Union Minister of State for Textiles, Santosh Kumar Gangwar 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.
A pilot project under the Direct Payment Deficiency System (DPDS) for paying MSP guarantee for the cotton farmers has already been initiated at Hinganghat in Maharashtra, under which the farmers will directly get the amount which is the difference between the MSP and the market price, when the market price falls below the MSP. For availing of the benefit, farmers would have to present proof of cotton sold at Agriculture Produce Market Committee yards and ownership document, yield estimation and other details. If the pilot is successful, the DPDS would then be extended to all cotton growing regions.
Texmin.nic.in
