Govt approves 3,500 crore rupees for providing assistance to sugar mills
In a written reply to a question in the Lok Sabha, the Minister said, this will help facilitate export of sugar during the sugar season 2020-21 and improve the liquidity position of sugar mills enabling them to clear cane price dues of farmers. He said, in order to ensure that the assistance is directly credited into the accounts of farmers, the sugar mill shall open a separate no-lien account in a nationalized bank or cooperative bank and furnish to that bank the list of farmers along with bank accounts details. He said, the bank shall credit the amount of assistance to the farmers’ accounts on behalf of the mills against cane dues payable and subsequent balance, if any, shall be credited into mill’s account. He further said, there are about five crore sugarcane farmers along with their families will be benefited by this decision.