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Govt raises minimum support price of sugar to Rs 31 per kg for 2019-20
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Friday, 15 February, 2019, 13 : 00 PM [IST]
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Our Bureau, New Delhi
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The Department of Food, Ministry of Consumer Affairs, Food and Public Distribution, has decided to increase the minimum support price (MSP) of sugar from Rs 29 to Rs 31 for the year 2019-20. This was stated by Ram Vilas Paswan, minister of consumer affairs, food and public distribution on Thursday.
This was with the aim of benefiting sugar farmers and in order to clear their arrears/cane dues. The ministry made this decision to increase the MSP by Rs 2 in order to provide more liquidity to the sugar mills, so that they are able to pay the arrears or dues to the sugarcane farmers.
Paswan asserted that the main objective of the government, led by Prime Minister Narendra Modi, was to ensure farmers’ welfare and growth, and added that this move was another step in that direction.
The minister expressed confidence that the hike in MSP will lead to increased income and savings for the sugar mills, which will then be passed on to the sugarcane farmers.
The food department and the state governments will also be able to monitor the sale of sugar at the revised MSP rate, so as to ensure that the sugar mills are utilising their increased liquidity to pay the farmers’ dues. As on February 13, 2019, the farmers’ dues amount to Rs 20,167 crore, while the same computed at FRP (fair and remunerative price) amounts to Rs 18,157 crore.
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