December 19, 2013 8:44 PM

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CCEA clears interest free loan to cash starved sugar mills

The Cabinet Committee on Economic Affairs, CCEA, today cleared 6,600 crore rupees interest free loan to cash starved sugar mills for making payment to cane farmers. The decision in this regard was taken at the CCEA meeting held under the chairmanship of Prime Minister Dr. Manmohan Singh in New Delhi this evening. The sugar industry is facing financial problems due to higher cost of production and lower sugar prices in the wake of surplus production in the last few years.

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