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Central govt approves a subsidy of Rs 3,500 crore for sugar export English.Lokmat.com

Central govt approves a subsidy of Rs 3,500 crore for sugar export

The Central government on Wednesday has taken the decision to help farmers directly by depositing money of subsidy into ...
Central govt approves a subsidy of Rs 3,500 crore for sugar export

The Central government on Wednesday has taken the decision to help farmers directly by depositing money of subsidy into their accounts. The subsidy will be given on 60 lakh tonnes of sugar exports at the rate of Rs 6000 per tonne, said Union Minister Prakash Javadekar. 

It'll help 5 crore farmers & 5 lakh workers in various sugar mills. Farmers will get 3 credits- within 1 week farmers will get Rs 5,361 cr, Rs 18,000 cr of export running to  be credited to their accounts to the extent of their dues, & Rs 3500 cr, the subsidy decided today, he added.

Briefing media after the meeting, Information and Broadcasting Minister Prakash Javadekar said the Cabinet Committee on Economic Affairs (CCEA) has approved a subsidy of Rs 3,500 crore on exports of 60 lakh tonnes of sweetener and the subsidy amount will directly be given to farmers.

The minister said both "sugar industry as well as sugarcane farmers are in crisis" because of high domestic production at 310 lakh tonnes as against the annual demand of 260 lakh tonnes.

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