Govt approves Rs 6,268 crore subsidy to promote sugar exports
The sugar export subsidy would be directly credited into farmers' accounts on behalf of mills against sugarcane price dues. Subsequent balance, if any, would be credited to mills' account.
- Aug 28, 2019,
- Updated Aug 28, 2019 8:57 PM IST
The Cabinet Committee on Economic Affairs (CCEA) has approved sugar export policy for evacuation of surplus stocks during sugar season 2019-20. The CCEA, chaired by Prime Minister Narendra Modi, gave nod to sugar export subsidy of about Rs 6,268 crore to liquidate surplus domestic stock and help mills in clearing huge sugarcane arrears to farmers.
"We have taken an important decision in the interest of sugarcane farmers. The cabinet has approved export subsidy for 6 lakh metric tonne (LMT) for 2019-20," Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting on Wednesday.
The Cabinet Committee on Economic Affairs (CCEA) has approved sugar export policy for evacuation of surplus stocks during sugar season 2019-20. The CCEA, chaired by Prime Minister Narendra Modi, gave nod to sugar export subsidy of about Rs 6,268 crore to liquidate surplus domestic stock and help mills in clearing huge sugarcane arrears to farmers.
"We have taken an important decision in the interest of sugarcane farmers. The cabinet has approved export subsidy for 6 lakh metric tonne (LMT) for 2019-20," Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting on Wednesday.