President Pranab Mukherjee has given assent to the Sugar Cess (Amendment) Bill, 2015, raising the ceiling of the impost from Rs 25 to Rs 200 per quintal. The hike in sugar cess would lead to increase in the accruals to the Sugar Development Fund, which facilitates rehabilitation and modernisation of sugar mills, thereby helping cane growers. It will help sugarcane growers and cash-starved mills. The bill was passed by Lok Sabha on 15th of last month but opposition members had joined ranks in the Rajya Sabha to oppose its consideration on December 23, the last day of the winter session.<br/><br/>The bill, which was declared a money bill, became a law after the President's nod as it was not returned by the Upper House to the Lok Sabha within 14 days of its consideration there, as required under the rules.