The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved several major welfare decisions for farmers, including a Rs 3,70,128.7 crore unique package of innovative schemes, and a higher sale price of sugarcane at Rs 315 per quintal for 2023-24.
The Fair and Remunerative Price (FRP) of sugarcane at Rs 315 per quintal for sugar season 2023-24 has been fixed based on the basic recovery rate of 10.25 per cent, Information and Broadcasting Minister Anurag Thakur told newspersons after the CCEA meeting.
Sugar mills are paying farmers’ dues promptly, he said.
The Minister said the cost of production of sugarcane for the season 2023-24 is Rs 157 per quintal. The FRP of Rs 315 per quintal is thus higher by 100.6 per cent over the production cost. The FRP for sugar season 2023-24 is 3.28 per cent higher than the current sugar season 2022-23 price of Rs 305 per quintal.
It was decided to provide a premium of Rs 3.07 per quintal for each 0.1 per cent increase in recovery over and above 10.25 per cent, and reduction in FRP by Rs 3.07 per quintal for every 0.1 per cent decrease in recovery, the Minister said.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
King is back in his territory: Shastri backs Kohli to beat slump in Australia
Former Team India coach Ravi Shastri feels star batter will return to form during Test series Down Under
India aim to overcome KL Rahul's injury scare ahead of BGT series
Star batter KL Rahul was forced to retire hurt after being hit by a rising delivery from Prasidh Krishna during the team's intra-squad match simulation at the WACA in Perth on Friday.
Bengal coach Shukla hails pacer Shami's 'fairy tale' return to competitive cricket
Bengal coach Laxmi Ratan Shukla was amazed at the seamless return of star quick Mohammed Shami in competitive cricket after nearly 12 months and believed that the experienced right-armer would only get better as he got more cricket under his belt.
Pant bowled twice, no signs of discomfort by Kohli
India's intra-squad match simulation provided a mix of positives and concerns ahead of the Border-Gavaskar series opener against Australia in Perth.
World Cup qualifiers: Argentina lose to Paraguay, Brazil stumble in Venezuela
Reigning champions and five-time winners suffer shock reversals to leave South American qualifying group wide open
No regrets about leaving Man United, says Scott McTominay
Scott McTominay, the defensive midfielder who has been with Manchester United since the age of five, left his boyhood club for Napoli in a move reported to be worth 27.5 million Pounds.
PKL Season 11: Pressure is nothing but talk, asserts Dabang Delhi star Ashu Malik after strong start to second leg
Fresh off becoming the first raider to complete 100 raid points in PKL Season 11, Dabang Delhi K.C.'s star raider Ashu Malik shared insights into his remarkable journey and mindset.
Prajnesh Gunneswaran hangs up his racquet, announces retirement
Indian tennis player Prajnesh Gunneswaran, who once reached a career-high ATP ranking of No. 75, announced his retirement from professional tennis on Friday.
India vs Malaysia preview: Blue Tigers face big challenge, eye positive end to 2024
The India-Malaysia football rivalry goes a long way back.
Van Nistelrooy bids emotional farewell to Manchester United
Dutch football legend Ruud Van Nistelrooy, Manchester United's interim head coach who has now departed from the club upon the arrival of Ruben Amorim, took to social media on Friday to thank the club for giving him the opportunity.
