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Cabinet clears ₹3,500-cr. subsidy for sugar exports

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The Centre authorised a ₹3,500-crore subsidy to sugar mills to incentivise them to export 60 lakh tonnes of surplus inventory within the 2020-21 season, serving to them to clear fee arrears resulting from cane farmers.

The determination, taken by the Cabinet Committee on Economic Affairs, would profit 5 crore cane farmers and an equal variety of mill employees, in line with an official assertion.

The transfer comes at a time when hundreds of farmers, together with a gaggle of cane farmers from U.P., are agitating on the borders of the nationwide capital.

The sugar trade in addition to the farmers had been in disaster with manufacturing at 310 lakh tonnes in opposition to the annual home consumption demand of 260 lakh tonnes, Prakash Javadekar, Information and Broadcasting Minister, informed journalists after the Cabinet assembly.

“Farmers sell their sugarcane to the sugar mills, however the farmers are not getting their dues from the sugar mill owners as they have surplus sugar stock.

“To address this concern, the government is facilitating the evacuation of surplus sugar stock,” in line with the official assertion.

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