Centre released US$ 1.9 billion (Rs. 15,948 crore) to sugar mills in the last 5 years

The central government has allocated approximately US$ 1.9 billion (Rs. 15,948 crore) over the past five years until January 31, 2024, through various schemes to enhance the liquidity of sugar mills and facilitate the settlement of cane price dues owed to farmers. Minister of State for Commerce and Industry, Mr. Anupriya Patel, outlined that these schemes were implemented to bolster the financial stability of sugar mills.

Initiatives include the creation of a 30 lakh tonne sugar buffer stock (July 2018 to June 30, 2019), covering expenses for the export of sugar during the 2018-19 season, and assistance to sugar mills in the 2019-20 season for facilitating sugar exports. Another scheme has also been introduced addressing marketing costs for the sugar seasons of 2020-21, 2019-20, and 2018-19. Minister of State for Commerce and Industry, Mr. Anupriya Patel, affirmed that approximately US$ 1.9 billion (Rs. 15,948 crore) has been disbursed to sugar mills nationwide during the last five financial years, including the current financial year up to January 31, 2024.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.