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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Rape accused's mother murdered by victim's brother in MP's Shivpuri
Shivpuri (PTI): The 60-year-old mother of a rape accused was killed allegedly by the victim's brother in Madhya Pradesh's Shivpuri district, a police official said on Saturday.
The incident took place on Friday, Rannod police station house officer (SHO) Arvind Chauhan said.
"An anganwadi worker returning from a hospital was offered a lift by one Inder Gurjar, who took her to a secluded spot and raped her. She called up her brothers to narrate the ordeal. One brother of the victim along with two associates went to Gurjar's house and assaulted him. When Gurjar's mother Sirkunwarbai (60) intervened, she was attacked with a sharp weapon. She died on the spot," he said.
Based on a complaint filed by the deceased woman's daughter-in-law, three persons were booked for murder. One of them was held on Saturday, the official added.
A separate case has also been registered against Gurjar for rape, he said.
Police personnel have been deployed in the area in view of tension following the incident, the official added.
