Union Cabinet Approves Rs 275 Hike in Raw Jute MSP for 2026-27 Season

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 275 increase in the Minimum Support Price (MSP) for raw jute to Rs 5,925 per quintal for the 2026-27 marketing season. This hike ensures a return of 61.8% over the all-India weighted average cost of production, aligning with the government's policy of setting MSP at least 1.5 times production costs. The increase aims to benefit jute farmers, particularly in West Bengal and Assam. The Jute Corporation of India will continue as the nodal agency for price support operations, with losses reimbursed by the Centre.