Govt approves Rs 5.5 per quintal subsidy for sugarcane farmers
The government today approved a production subsidy of Rs 5.5 per quintal for sugarcane farmers to help cash-starved millers clear cane arrears that have surged to about Rs 20,000 crore due to sharp fall in sugar prices on record production. The Cabinet Committee of Economic Affairs has approved a production-linked subsidy of Rs 55 per tonne (Rs 5.5 per quintal) for cane farmers, sources said. The move also comes at a time when Karnataka, a leading sugarcane producing state, is going for polls on May 12. Welcoming the decision, industry…
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