The Indian government released Rs 15,948 crore to sugar mills in last 5 years

Published 2024년 2월 9일

Tridge summary

The Indian government has allocated approximately Rs 15,948 crore to sugar mills over the past five years to enhance liquidity and enable them to pay farmers' cane price dues. The funding is part of schemes for sugar buffer stock creation and maintenance, deferring certain export-related expenses, and aiding in marketing costs. Additionally, the government is developing a new online platform to link exporters with various stakeholders. In related news, India's exports to Australia have increased by 13.78%, while imports have dropped by 16.93%, resulting in a 35.26% reduction in the trade deficit.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The center has released about Rs 15,948 crore under different schemes in the last five years till January 31 to various sugar mills to improve their liquidity for clearing cane price dues of farmers, Parliament was informed on Friday. Minister of State for Commerce and Industry Anupriya Patel said the central government, with a view to improve liquidity of the sugar mills enabling them to clear cane price dues of farmers, has announced these schemes in the last five years. These schemes include the creation and maintenance of a buffer stock of 30 lakh tonnes of sugar with effect from July 2018 to June 30, 2019; scheme for deferring expenditure towards internal transport, freight, handling, and other charges on the export of sugar season 2018-19; and assistance to sugar mills season 2019-20 to facilitate the export of sugar. A scheme for providing assistance to sugar mills for expenses on marketing costs including, handling, upgrading and other processing costs, and internal ...

Source: Economic times