Govt Gives Mega Relief for Sugar Sector; 7000 Cr Package Gets Nod | CNBC TV18

Описание: The union government on Wednesday approved a bailout package for the sugar sector. Worth Rs 7,000 crore, the package was approved by the Union Cabinet in a meeting chaired by prime minister Narendra Modi in order to improve the problem of liquidity of sugar mills resulting in the accumulation of huge cane price arrears of farmers, which has risen to Rs 22,000 crore in recent times. The cabinet also decided that a buffer stock of 30 lakh metric tonne (LMT) of sugar was to be made for one year, and that a estimated expenditure of Rs 1,175 crore would be incurred for this purpose.
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