Maximum Sale Price of Bt Cotton Seed Has Been Fixed by the Union Government [ Current Affairs ]
For the year 2016 - 17 the Union Government has notified maximum sale price (MSP) of Bt cotton seed. The Union Agriculture and Farmers Welfare Minister Radha Mohan Singh has make announcement in this regard. For this notification is also published by the Union Government as per the Cotton Seed Price (Control) Order, 2015 under the Section 3 of the Essential Commodities Act, 1955.
According to the notification
- Price of BG-I version of Bt cotton hybrid has been fixed at 635 rupees.
- Price of BG-II version of Bt cotton hybrid was fixed at 800 rupees.
- The Union Agriculture and Farmers Welfare Ministry has set up nine-member committee and they have recommended the prize for the MSP of Bt cotton seed for the year 2016 - 17.
- It had fixed the MSP taking into reflection the seed value, trade margins license fees including one-time and recurring payment and other taxes.
- The multinational companies (MNCs) largely control the Bt cotton seed market in India and they charge excessive prices which cause small and relegated cotton growing farmers so for this reason Committee was constituted.
- In December 2015 Union Government had issued Cotton Seed Price (Control) Order, 2015 to regulate seed prices of Bt cotton and safeguard the interests of the farmers.
About Bt cotton
Bt cotton is a genetically modified organism (GMO) cotton variety that produces a pesticide to bollworm.
It is developed by the gene coding technique as inserting Bt toxin into cotton as a transgene that sources it to produce this natural insecticide in its matters.
The Bt toxin is gained from the anxieties of the bacterium Bacillus thuringiensis which is only harmful to different insects such as
- Larvae of moths and butterflies
- Cotton bollworms
- Published on: March 15, 2016