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Rs 3,500 cr subsidy to export 60 lakh tonne sugar
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SME Times News Bureau | 16 Dec, 2020
The Centre has declared a subsidy of Rs 3,500 crore for the export of 60
lakh tonne of sugar in the current sugar season 2020-21
(October-September).
The Cabinet Committee on Economic Affairs
(CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved the
financial assistance of nearly Rs 3,500 crore for sugarcane farmers
(Ganna Kisan), said an official statement.
Briefing about the
decisions taken by the Union Cabinet, Information and Broadcasting
Minister Prakash Javadekar said the CCEA has approved a subsidy of Rs
3,500 crore for export of 60 lakh tonne of sugar and the amount of
subsidy would be directly transferred to the farmers.
The sugar
production in the current season is estimated at nearly 310 lakh tonne
while the domestic consumption is nearly 260 lakh tonne for the current
year, therefore domestic price is low, said the Minister.
At
present, there are nearly five crore sugarcane farmers (Ganna Kisan)
dependent upon it across the country. In addition to this, there are
nearly five lakh workers employed in the sugar mills, ancillary
activities and their livelihood depends on the sugar industry.
The
farmers sell their sugarcane to the sugar mills, however the farmers
are not getting their dues from the sugar mill owners as they have
surplus sugar stock. To address this concern, the Union government is
facilitating the evacuation of surplus sugar stock. This would enable
payment dues of the sugarcane farmers. The government would incur an
expenditure of nearly Rs 3,500 crore for this purpose and this financial
assistance would be directly credited into farmers' accounts on behalf
of sugar mills against cane price dues and the subsequent balance would
be credited to the mill's account, said the statement.
This
subsidy aims at covering expenses on marketing costs, including
handling, upgrading and other processing costs, and costs of
international and internal transport and freight charges on export of
upto 60 Lakh Metric Tonnes (LMT) of sugar limited to Maximum Admissible
Export Quota (MAEQ) allocated to sugar mills for sugar season 2020-21.
This
decision would benefit five crore sugarcane farmers and their
dependents, as well as five lakh workers employed in the sugar mills and
related ancillary activities.
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