Union Government notified Maximum Sale Price of Bt Cotton Seed

Posted on:14 Mar 2016 12:51:05
Union Government notified Maximum Sale Price of Bt Cotton Seed
14 March 2016 Current Affairs: The Union Government on 9 March 2016 notified maximum sale price of Bt cotton seed for 2016-17. An announcement in this regard was made by the Union Agriculture and Farmers Welfare Minister Radha Mohan Singh.As per the notification, the price of BG-I version of Bt cotton hybrid (9450 grams of Bt Cotton plus 120 grams refugia) was fixed at 635 rupees, while the price of BG-II version was fixed at 800 rupees.The notification was released as per the Cotton Seed Price (Control) Order, 2015 that was issued under the Section 3 of the Essential Commodities Act, 1955.In India, the Bt cotton seed market has been largely controlled by the private companies especially by the multinational companies like Monsanto.Though these companies ensured adequate supply of the seeds there were wide scale allegations that they were charging exorbitant prices that consequently became a cause of concern for small and marginalized cotton growing farmers.Against this backdrop, the Union Government issued the Cotton Seed Price (Control) Order, 2015 on 7 December 2015 in order to regulate Bt cotton seed prices and there by safeguard the interests of the farming community.As per this order, a nine-member committee was set up to recommend the maximum sale price after taking into consideration the seed value, licence fees including one-time and recurring royalty (trait value), trade margins and other taxes.
The Union Government on 9 March 2016 notified maximum sale price of Bt cotton seed for 2016-17. An announcement in this regard was made by the Union Agriculture and Farmers Welfare Minister Radha Mohan Singh.As per the notification, the price of BG-I version of Bt cotton hybrid (9450 grams of Bt Cotton plus 120 grams refugia) was fixed at 635 rupees, while the price of BG-II version was fixed at 800 rupees.The notification was released as per the Cotton Seed Price (Control) Order, 2015 that was issued under the Section 3 of the Essential Commodities Act, 1955.In India, the Bt cotton seed market has been largely controlled by the private companies especially by the multinational companies like Monsanto.Though these companies ensured adequate supply of the seeds there were wide scale allegations that they were charging exorbitant prices that consequently became a cause of concern for small and marginalized cotton growing farmers.Against this backdrop, the Union Government issued the Cotton Seed Price (Control) Order, 2015 on 7 December 2015 in order to regulate Bt cotton seed prices and there by safeguard the interests of the farming community.As per this order, a nine-member committee was set up to recommend the maximum sale price after taking into consideration the seed value, licence fees including one-time and recurring royalty (trait value), trade margins and other taxes.

Monthly Current Affairs

Fresherslive telegram Group

Current Affairs Section

Daily Current Affairs Quiz


Daily Current Affairs Videos Video Link
15th June 2019 Current Affairs Video
14th June 2019 Current Affairs Video
13th June 2019 Current Affairs Video
12th June 2019 Current Affairs Video
11th June 2019 Current Affairs Video
Watch more Current Affairs Videos





Subscribe to Current Affairs

Enter your email to get daily current affairs
SUBSCRIBE
Download Current Affairs PDF
Weekly pdf's
60 24
at 36 off

Monthly pdf's
250 89
at 161 off

Yearly pdf's
1200 499
at 701 off

YEARLY Current Affairs PDF

  • Yearly Current Affairs 2018 PDF


  • Currentt Affairs 2019 June

    17 JUNE
    NEWS
    16 JUNE
    NEWS
    15 JUNE
    NEWS
    14 JUNE
    NEWS

    Currentt Affairs 2019 May

    31 MAY
    NEWS
    30 MAY
    NEWS
    29 MAY
    NEWS
    28 MAY
    NEWS

    Currentt Affairs 2019 April

    30 APRIL
    NEWS
    29 APRIL
    NEWS
    28 APRIL
    NEWS
    27 APRIL
    NEWS




    Crack All Competitive Exams without Coaching - Buy Our PDF's @ Rs. 24/- only
    BUY NOW
    ×