Cabinet approves MSP funding of Rs.1,718.56 crore to CCI for cotton seasons 2023-24 for direct support to cotton farmers

• CCEA, chaired by PM, approved Rs 1,718.56 crore MSP funding to the Cotton Corporation of India (CCI) for cotton season 2023-24 to reimburse losses incurred while procuring kapas at MSP.
• Operationalises the government's price-support safety net for cotton farmers when mandi prices fall below MSP; aligns with Aatmanirbhar Bharat in quality cotton.
• Important for UPSC: links MSP mechanism, CACP, PSU under Ministry of Textiles, agri-marketing, and farmer income policy.