The Hindu Business Line : Maharashtra to export 17 lakh bales of cotton

The State Government is lobbying with the Centre to get at least 50 per cent share in international exports, the Marketing Minister, Mr Harshavardhan Patil, said.He was addressing the media at the Secretariat.

The CMPS for the year 2005-06 will be finalised at the Cabinet meeting on May 10. "The State Government's attempt is to announce the new policy before the cotton sowing season to as ensure that there is no confusion in the farmers minds," the Minster said. Mr Patil also said the Government has paid the entire amount of the CMPS 2004-05 — Rs 3,664 crore — to banks and instructed them to disburse the same to farmers.

The advance bonus payments would be made only after verifying the details of the crop sown by the farmers.

Under the CMPS started in 1971, the farmers were entitled for an assured price on selling their produce to the Cotton Federation and the bonus amount after the cotton bales were sold. But from 1994-95, the bonus amount was announced before the start of the season and the payment was done in instalments. This had resulted in the scheme running into huge losses.

The accumulated loss of the scheme is Rs 4,009 crore and this year the loss is expected to be between Rs 1,600 crore and Rs 1,650 crore.

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