Rs 7,000-crore bailout package for sugarcane farmers
New Delhi, June 6: The Cabinet on Wednesday approved a Rs 7,000-crore bailout package and set the minimum selling price for sugar at Rs 29 per kg to support the struggling sector, a Union Minister said.
"In order to remove the problem of liquidity of sugar mills resulting in accumulation of huge cane price arrears of farmers, the Union Cabinet chaired by Prime Minister Narendra Modi has approved ... measures involving total amount of about Rs 7,000 crore," Union Minister for Law, Justice and IT Ravi Shankar Prasad said.
The decision of Cabinet Committee on Economic Affairs (CCEA) comes as excess production in the current sugar season has depressed its market price, adversely affecting the liquidity position of sugar mills leading to accumulation of Rs 22,000-crore dues to the farmers.
The package comprises Rs 1,175 crore for creating a 30 lakh MT buffer stock, Rs 4,440 crore as soft loan for mill owners to increase ethanol production capacity to divert surplus sugarcane and Rs 1,332 crore towards interest subvention for the loan, the Cabinet said in a note.
"...government will bear interest subvention of maximum Rs 1,332 crore over a period of five years including moratorium period of one year on estimated bank loan amounting to Rs 4,440 crore to be sanctioned to the sugar mills by the banks over a period of three years," it said.
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Women's quota bill would have ensured defeat of democracy, Constitution: Aaditya Thackeray
Mumbai (PTI): Shiv Sena (UBT) leader Aaditya Thackeray on Saturday said that the passage of the women's quota bill would have ensured a "total defeat of democracy", alleging that the legislation, linked with a delimitation exercise, was a political tool designed to reduce the voice of states.
Thackeray, in a post on X, claimed that the Bill would have amended the Constitution for the political means of the ruling regime to increase seats, reduce the voice of many states and enable the gerrymandering of constituencies to ensure unfair victories.
"The very amendment that would have ensured the total defeat of democracy and the Constitution in India stands rejected by the unity of the Opposition MPs," he wrote.
The legislation should have been called "Delimitation to ensure unfair victory Bill", the former minister said, adding that there was a genuine need to enable 33 per cent reservation for women in the current number of seats.
"Now, it is up to the government to ensure that it is implemented in the 543 seats of the Lok Sabha for the 2029 elections and all elections across India, if that is the real intent of the government," he wrote.
A Constitution Amendment Bill to implement reservation for women in legislatures in 2029 and increase the number of Lok Sabha seats was defeated on Friday in the Lower House.
While 298 members voted in support of the Bill, 230 MPs voted against it. Out of 528 members who voted, the Bill required 352 votes for a two-thirds majority.
According to the Constitution Amendment Bill, Lok Sabha seats were to be increased to a maximum of 850 from the current 543 to "operationalise" the women's reservation law before the 2029 parliamentary polls, following a delimitation exercise based on the 2011 Census.
