After registering a decline of about 9 per cent in cotton season (CS) 2018-19, India’s cotton production is likely to witness a double-digit growth of about 16 per cent in CS 2019-20 with production at 6.6 billion kg during the year on back of favourable monsoon as well as increased MSP that led to increased cotton crop sowing. For CS20, the acreage under cotton is estimated to have marginally increased by about 1.3 per cent to 12.8 million hectares.
Browsing: Cabinet Committee On Economic Affairs
World cotton production is projected to be lower than its consumption for the fourth year in row. This has marginally supported the cotton prices in CS19 despite the subdued demand.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved continuation of the Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS) beyond 12th Plan for three years from 2017-18 to 2019-20, with a total outlay of Rs. 2,900 crore. The scheme will facilitate technology up-gradation to MSMEs.