New Delhi | Jagran Business Desk: The Union Cabinet on Wednesday decided to approve the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a Cabinet meeting chaired by Prime Minister Narendra Modi in the national capital today.
The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of Rs 10,683 crore. Incentives worth Rs 10,683 crores will be provided over 5 years. PLI scheme for textiles is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore.
"So far, we have primarily focused on cotton textile. But 2/3 share of the international textile market is of man-made & technical textile. This PLI scheme has been approved so that India can also contribute to the production of man-made fibers", Union Minister Piyush Goyal said as quoted by ANI.
MSP For Rabi Crops Increased:
In another major decision amid the massive protest by the farmers of the country, the government has raised the minimum support price (MSP) on Rabi crops including wheat, barley, gram, mustard and others. The MSP for wheat was increased by 2 per cent to Rs 2,015 per 100 kg, while the MSP for mustard seed has been raised by Rs 400 to Rs 5,050 per quintal for the current crop year.
MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both kharif (summer) and rabi (winter) sowing seasons.
Sowing of rabi (winter) crops begins from October immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved increase in MSPs for six rabi crops for the 2021-22 crop year (July-June) and 2022-23 marketing season.
The support price of barley has been hiked by Rs 35 to Rs 1,635 per quintal for the 2021-22 crop year from Rs 1,600 per quintal in the previous year.
Among pulses, the MSP for gram has been increased by Rs 130 to Rs 5,230 per quintal from Rs 5,100 per quintal while that for lentil (masur) has been hiked by Rs 400 to Rs 5,500 per quintal from Rs 5,100 per quintal.
In the case of oilseeds, the government has increased the MSP for mustard seed by Rs 400 to Rs 5,050 per quintal for the 2021-22 crop year from Rs 4,650 per quintal in the previous year. The MSP for safflower has been raised by Rs 114 to Rs 5,441 per quintal from Rs 5,327 per quintal.
Posted By: Talibuddin Khan