Question

The Cabinet Committee on Economic Affairs (CCEA) increased the Minimum Support Prices (MSPs) of cotton (long staple) to Rs _______ per quintal for marketing season 2020-21.
1. 6855
2. 8525
3. 5825
4. 7285

Answer 1

Correct Answer - Option 3 : 5825

The correct answer is Rs 5825/-

• The Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, has approved the increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2020-21.

• The government has increased the MSP of Kharif crops for marketing season 2020-21, to ensure remunerative prices to the growers for their produce. 

• The price fixed for Cotton (Long Staple) and cotton (Medium Staple) is Rs 5825 and Rs 5515 for the year 2020-21.
• The MSP was further increased for the Cotton (Long Staple) from Rs 5825 to Rs 6025 for the year 2021-22.

• CCEA has the mandate to review economic trends on a continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic policy framework for the country.
• Apart from the above functions, the committee also directs and coordinates all policies and activities in the field of economics.
• Price controls of industrial raw materials and products, industrial licensing policies including industrial licensing cases for the establishment of Joint Sector Undertakings, reviewing the performance of Public Sector Undertakings including their structural and financial restructuring
• The Committee is chaired by the PM and it consists of the Ministers as its member.
• As of Dec 2021, the composition of the CCEA is given in the below table- 

 

Name of the Member	Ministry/Department of the member
Shri Narendra Modi.	Prime Minister
Shri Raj Nath Singh	Minister of Defence.
Shri Amit Shah	Minister of Home Affairs; and Minister of Cooperation.
Shri Nitin Jairam Gadkari	Minister of Road Transport and Highways.
Smt. Nirmala Sitharaman	Minister of Finance; and Minister of Corporate Affairs.
Shri Narendra Singh Tomar	Minister of Agriculture and Farmers Welfare.
Dr. S. Jaishankar	Minister of External Affairs.
Shri Piyush Goyal	Minister of Commerce and Industry; Minister of Consumer Affairs, Food  and Public Distribution; and Minister of Textiles.
Shri Dharmendra Pradhan	Minister of Education; and Minister of Skill Development and  Entrepreneurship