Election push: Modi cabinet approves Patna metro, higher MSP for jute

By: | Updated: February 14, 2019 7:28 AM

To set up a Kisan Mandi in Delhi, the agriculture ministry will transfer 1.61 acre land of Delhi Milk Scheme to Small Farmers' Agri-business Consortium.

To set up a Kisan Mandi in Delhi, the agriculture ministry will transfer 1.61 acre land of Delhi Milk Scheme to Small Farmers’ Agri-business Consortium. (representative image)

The Cabinet on Wednesday approved a Rs 13,411-crore metro rail project for Patna, raised the minimum support price (MSP) for raw jute by 6.8% and gave its nod for private participation in the strategic disinvestment of state-run Engineering Projects (India).

According to Union minister for finance, coal and railways Piyush Goyal, the Patna metro will be completed over the next five years and will have two corridors — Danapur to Mithapur (26.94 km) and Patna station to new ISBT (14.45 km).

With an eye on boosting electoral prospects in West Bengal, where the ruling BJP is pitted against the ruling Trinanool Congress, the MSP for raw jute has been hiked by Rs 250/quintal to Rs 3,950/quintal for 2019-20 season. “The MSP would yield returns of 55.81% over the all-India weighted average cost of production,” an official statement said.

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“It is expected to ensure appropriate minimum prices to the farmers and step up investment in jute cultivation and thereby production and productivity in the country,” it said. The Jute Corporation of India would continue to be the nodal agency to ensure farmers get the MSP.

To set up a Kisan Mandi in Delhi, the agriculture ministry will transfer 1.61 acre land of Delhi Milk Scheme to Small Farmers’ Agri-business Consortium.

Engineering Projects (India) is engaged in the field of execution of large and multidisciplinary industrial & construction projects on turnkey basis in the areas like civil and structural work, metallurgical sector, water supply and environmental engineering, defence etc. During the year 2015-16, the company achieved operating turnover of Rs. 1,295 crore as against the previous year turnover of Rs. 1,031 crore and earned profit before tax of Rs 38 crore as against previous year’s PBT of Rs. 41 crore. The net worth of the Company was Rs 228 crore in the year 2015-16.

Earlier, only PSUs were permitted to buy the Centre’s stake in the company.

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