Cabinet Decision: The cabinet has approved the Production Linked Incentives (PLI) scheme of Rs 10683 crore for the textile sector. Along with this, the cabinet increased the Minimum Support Price (MSP) for Rabi crops for the marketing season 2022-23.
New Delhi: Cabinet Decision: Modi government has made big announcements for farmers and textile sector today. The cabinet has approved the Production Linked Incentives (PLI) scheme of Rs 10683 crore for the textile sector. These incentives will be given to the textile sector over a period of 5 years. Apart from this, the cabinet has made many big announcements for the farmers. The government has decided to increase the MSP for Rabi crops. Farmers across the country will benefit from this.
10,683 crore to the textile sector
In the press conference held after the cabinet meeting, Commerce Minister Piyush Goyal and I&B Minister Anurag Thakur informed about the decisions of the cabinet. He said that the PLI scheme will help in making the Indian textile sector globally competitive. 7.5 lakh people will directly benefit from PLI scheme
‘Such steps have not been taken before for the textile sector’
Piyush Goyal said that the steps taken by Prime Minister Narendra Modi for the textile industry have hardly been taken before. I am sure that India will be able to show its dominance in the international market. He said that Rs 10,683 crore would be given as an incentive on production. With this our companies will become global champions. Companies which are near Tier 3 or Tier 4 cities, they will get more priority, as well as special attention will be given to how much employment will be created. States like Gujarat, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Andhra Pradesh, Telangana and Odisha will be directly benefited by this scheme.
#Cabinet approves Production Linked Incentive (PLI) Scheme for Textiles
Incentives worth ₹10,683 crore will be provided to the industry over five years#CabinetDecisions #PLI4Textiles pic.twitter.com/fmwrYL3CMd
— PIB India (@PIB_India) September 8, 2021
The government gave a gift to the farmers
The cabinet approved the purchase price of Rs 290 per quintal for sugarcane farmers, which is the highest ever. Cabinet increased the Minimum Support Price (MSP) for Rabi crops for the marketing season 2022-23. MSP for wheat increased from Rs 1975 to Rs 2015. At this MSP 100% of their cost of production will be returned to the farmers. The MSP of gram has been increased to Rs 5230 per quintal for the year 2022-23, which was earlier Rs 5100. The MSP of lentils has been increased from Rs 5100 to Rs 5500. The MSP of Mustard has been increased from Rs 4650 to Rs 5050. The MSP of Kusum has also been increased by Rs 114. Now it has increased from Rs 5327 to Rs 5441.
#Cabinet increases Minimum Support Prices (MSP) for Rabi crops for marketing season 2022-23
Return to farmers over their cost of production are estimated to be highest in case of wheat, rapeseed & mustard#CabinetDecisions #MSPhaiAurRahega
Read: https://t.co/7e2ttmNdNv pic.twitter.com/yxwEOKcwBn
— PIB India (@PIB_India) September 8, 2021
The increased MSP aims to encourage crop diversification and will ensure remunerative prices to the farmers.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
