Mumbai, Oct 15: Maharashtra government today said the cotton monopoly procurement scheme (cmps) will continue for the coming season starting from November 01 at the minimum support price declared by the centre. Briefing reporters after the weekly cabinet meeting here, Chief Minister Sushilkumar Shinde said, "the government will pay the first payment as the guarantee price equivalent to the minimum support price to the farmers during the purchase itself."
The other installment will be paid to the farmers as per the profit, he added.
The government has also decided to allow the private co-operative cotton mills to purchase cotton through authorised market yard by way of auction, he said adding that the purchase will not be below the minimum support price.
Shinde said the cotton marketing board will purchase cotton at the minimum assured price if it falls below the same.
The Chief Minister said the Agricultural Marketing Directorate, district Deputy Registrar of Co-operative Department, Maharashtra State Co-Operative Cotton Production Marketing Association and Agriculture Production Marketing Committee will ensure that the farmers do not suffer financial loss.
The government will pay an amount of Rs 154 crore to the Maharashtra State Co-Op Cotton Prdouction Marketing Board for the short margin to be paid to the farmers, Shinde added.
Bureau Report