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Centre’s Loan of Rs. 4,400 Crores to Sugar Farmers!
Posted on: 25/Jun/2014 5:00:23 PM
The Centre’s loan of Rs. 4,400 Crores to sugar grates may pacify the life of more than 3.5 lakh farmers across Tamil Nadu, who stays hastily in the offing to recuperate about 710 Crores levy from 43 sugar mills all over the state.
Union food minister Ram Vilas Paswan, has mentioned clearly that the Central government aid would be facilitated only if sugar producers make certain payment of taxes to farmers, which drives to the refrain of 11,000 Crores all over the country.
The mills across Tamil Nadu stay fourth largest sugar manufacturing state, with contribution of 830 Crores concerning eliminating levy for the past five years.
There prevails an inclusive glut in sugar manufacture and dip in prices all over the country. India turns out about 240 lakh tons of sugar every year, of which only 215 lakh tons is utilized within the country.
If not the excess sugar is sell abroad, the domestic prices of sugar take a pounding. But Indian mills are incapable to vie with producers in Brazil and Thailand in valuing as their cost of making is low.
Sugarcane production is very in TamilNadu during 2013-2014 when compared to major sugarcane producing states like UP, Maharashtra and Karnataka, due to the scarce rainfall.
In the meantime, the rise of import levy for sugar from 15% to 40% will take time in alleviating the domestic prices and stopping undeserved trade practices, said an industry source.
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