NEW DELHI: The government approved subsidy on export of up to 1.4 million tonnes of raw sugar in the ongoing 2014-15 marketing year. The move would boost millers’ cash-flow and enable them to clear mounting sugarcane price arrears that have crossed Rs 12,000 crore. A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi. An official statement said, “The CCEA has approved the continuation of the incentive scheme for marketing and promotion services of raw sugar production during 2014-15 (October-September) for a quantity of 1.4 million tonnes.” The CCEA further approved an uniform rate of export subsidy at Rs 4,000 per tonne for the 2014-15 marketing year. It added, “Other conditions will remain the same, as were last year, except that in case of mills having alcohol production capacities, the incentive would be available if they offer to supply ethanol to Oil Marketing Companies (OMCs) under the Ethanol Blending Programme (EBP) up to 25 percent of their annual production level of alcohol.”
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