Packaging of foodgrains & sugar in jute material to be mandatory

Packaging of food grains and sugar in jute material will be mandatory. It will be minimum of 90 per cent of production in case of food grains and 20 per cent for sugar. The decision was taken by the Cabinet Committee on Economic Affairs, CCEA. The decision will help the jute sector which generates a lot of livelihoods for farmers and workers. 

The Cabinet Committee on Economic Affairs, CCEA, has approved providing financial support to the Jute Corporation of India, JCI. The subsidy will be provided subsidy to JCI on a continuous basis to off-set the losses on account of Minimum Support Price (MSP) operations . The quantum of subsidy will include the difference between the Purchase and Sale Price of MSP Raw Jute. 

Besides, the CCEA also cleared a proposal of HDFC Bank Limited for maintaining the permissible foreign holding in the bank up to 74 per cent of the total paid up capital. The bank has also been permitted for issuance of equity shares aggregating to an amount of 10,000 crore rupees. 

The CCEA also cleared a proposal of Lupin Limited for increase in aggregate limit of investment from 33 percent to 49 percent by Foreign Institutional Investors and their sub-accounts registered with SEBI. The move will result in foreign investment of around 6099 crore rupees in the country.