India will raise the import duty on sugar to 40 per cent from 15 percent and will consider other incentives for mill owners if they clear dues owed to farmers, the food minister said on Monday.
The government will to provide additional interest-free loan of Rs 4,400 crore to cash-starved sugar mills to make payments to cane farmers.
“We have reached a consensus to raise the import duty to 40 per cent and to consider other incentives provided mills clear Rs 110 billion ($1.84 billion) in dues to farmers,” Ram Vilas Paswan said after meeting the sugar industry officials.
- Bigg Boss 10 Day 3 Review: Celebs Fail To Do Well in First Task
- Airtel Offers 10GB Data At Rs 259 For New 4G Smartphone Users
- Aamir Khan Starrer Dangal’s Trailer Launched: First Impressions
- TMC Supporters Attack BJP Leader Babul Supriyo
- Sri Lankan Navy Apprehends 20 Indian Fishermen
- Hillary Clinton accuses Donald Trump of being Vladimir Putin’s ‘puppet’
- Senior UP Congress Leader Rita Bahuguna Joshi Joins BJP
- Missing JNU Student: VC Gives Ultimatum To Students Over ‘Illegal Confinement’
- US Presidential Debate: Donald Trump Calls Hillary Clinton ‘A Nasty Woman’
- Hasselblad True Zoom Mod Review
- Honor 8 First Look Video
- Apple Watch 2: Review, Price And Features
- Delhi HC Dismisses Kejriwal’s Plea For Stay In Criminal Defamation Case
- Gulzar Shares An Interesting Anecdote Behind The Lyrics of ‘Humne Dekhi Hai’ Song
- Diya Mirza Displays Her Painting Skills At An Art Festival In Mumbai
Paswan also told reporters the subsidy of Rs 3,300 per tonne on raw sugar exports would be extended until September. India increased the subsidy for raw sugar earlier this month to boost output and exports.
The government has also decided to raise the mandatory blending of ethanol in gasoline to 10 per cent from 5 per cent.