September 26, 2018 9:01 PM

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Cabinet nod for comprehensive policy to deal with excess sugar production

The Cabinet Committee on Economic Affairs, CCEA has approved the comprehensive policy to deal with excess sugar production in the country. <br />''<br />''<br />''Briefing media in New Delhi today, Finance Minister Arun Jaitley said, the measures involve the total assistance of over 5500 crore rupees to support the sugar sector by way of offsetting the cost of the cane. <br />''<br />''<br />''Mr Jaitley said, the total expenditure on this account would be about 4163 crore which will be borne by Government. He said, these measures will facilitate export of sugar from the country thereby improving the liquidity of the industry enabling them to clear cane price arrears of farmers.  <br />''<br />''<br />''Apart from this, the Centre will provide assistance to mills by compensating expenditure towards internal transport, freight, handling and other charges to facilitate export during the sugar season 2018-19. <br />''<br />''<br />''<span style="color: #222222;">According to an official release, both the assistance would be credited directly into the accounts of farmers on behalf of sugar mills against cane price dues payable to farmers against fair and remunerative price including arrears relating to previous years.</span><br />

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