Today, Ram Vilas Paswan has given indications of rise in sugar price as government has decided to hike the import duty on it and to provide an additional interest- free loan of upto Rs 4,400 crore to pay dues to cane growers.
In a high-level meeting convened by Ram Vilas Paswan, it was decided that the import duty will be raised to 40 % from present 15 %. It was also decided that the export subsidy will be extended till September this year to give relief to the sugar industry, which owes Rs 11,000 crore to cane growers largely in Uttar Pradesh. Government to hike import duty on sugar; prices may go up, informs Food Minister Ram Vilas Paswan. Efforts will be made to implement mandatory 5 % ethanol blending with petrol and subsequently achieve 10 % blending.Paswan futher said, We have decided to give interest-free loan given against excise duty paid by sugar mills for five years instead of three years,”
