Big news for sugar sector! Relief package coming soon
The government may announce a relief package worth Rs 10000-Rs 12000 cr for the sugar industry. The announcement which is likely to come in 15-20 days will be a major relief for the sector. The modalities of the sugar sector package are almost ready, and added that the plan is being prepared to give the sector a much needed relief. The package is likely to clear dues of the industry which have been there since last year, he averred. The government is planning to provide soft loans to the sugar mills. Among other measures, the government is also planning to increase the sugar export quota of companies from the existing 45 lakh metric tons to 60 lakh metric tons. A draft cabinet note will be prepared by the ministry which will be shared with other ministries for further consultations. The final approval will be made only after it comes to the cabinet. All this can take 15-20 days, he added.