Government intervenes to unclog payment of arrears to cane farmers
Source: PIB, Government of India To help the industry clear its cane dues arrears, the Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi today approved the proposal to provide soft loans to the extent of Rs. 6000 crore to the sugar industry. CCEA has provided a one year moratorium on this loan, and will bear the interest subvention cost to the extent of Rs. 600 crore for the said period. To ensure that farmers are paid their dues expeditiously, the Government has mandated that banks will obtain from the sugar mill, the list of farmers with bank account details to the extent cane dues are to be paid, so that the same are directly paid into ...
