India's federal cabinet has decided , cotton Indian cotton held in accordance with the subsidized price stock market , spinning mills in India cheered . Cotton Corporation of India is the largest new cotton acquisition units ,better homes and garden, 25-40 % increase in the minimum support price of cotton .
Government of India Cabinet had to take this decision , because of the huge inventory of Cotton Corporation of India , and the purchase price is significantly higher than the international market popular prices . Maharashtra state cotton growers marketing alliance proposed discounted price sold to buyers purchasing large quantities of cotton .
industry organizations ,health, including the Indian Textile Industry Union have long asked the Cotton Corporation of India in accordance with international competitive prices stock put in the India market . Cotton Corporation of India is expected to be sold at subsidized prices of cotton after receiving the government notification .
Cabinet has approved a budget of 50 billion rupees for the loss caused to compensate for the Cotton Corporation of India sells cotton . Indian cotton was acquired by the Company in accordance with the minimum support price of cotton , when the international price is lower than the minimum support price of cotton in India . Cotton Corporation of India , so far , the acquisition of 6.7 million bales ( 1 bale = 170 kg ) of cotton production this year .
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