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Rs 678-cr package for sugarcane farmers

New Delhi, August 23
The Centre today approved a one-time sugarcane price payment package of Rs 678.06 crore for five states which will permanently bring an end to the SAP (State Advised Price) regime under which these states fix their own cane prices every year.

The five states are Uttar Pradesh, Uttaranchal, Haryana, Punjab and Bihar which have given their consent for the package, Minister for Parliamentary Affairs Sushma Swaraj said here after a meeting of the Union Cabinet.

The package will not be in form of a grant and will become operational after state governments avail of it in form of soft loans at a concessional rate of interest of 4 per cent with an initial moratorium for three years and repayable in three years thereafter.

The statewise allocation under the package is Rs 490.21 crore (Uttar Pradesh), Rs 84.73 crore (Haryana), Rs 32.25 crore (Uttaranchal), Rs 39.91 crore (Bihar) and Rs 30.96 crore (Punjab), she said.

The profit sharing formula between the millers and the farmers will still be operational, she added. PTI
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