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Govt hikes sugarcane procurement price by Rs 25 to Rs 340 per quintal

Sugarcane is grown mainly in Maharashtra, Uttar Pradesh, and Karnataka. ​The FRP has been determined on the basis of recommendations of the Commission for Agricultural Costs and Prices (CACP) and after consultation with state governments and other stakeholders.

Shashwat Bhandari Edited By: Shashwat Bhandari @ShashBhandari New Delhi Updated on: February 22, 2024 6:11 IST
Sugarcane, Modi govt, cabinet committee on economic affairs
Image Source : PTI Representational image

The Modi government on Wednesday approved a hike in sugarcane Fair and Remunerative Price (FRP) by Rs 25 to Rs 340 per quintal for 2024-25, Union Information and Broadcasting Minister Anurag Thakur informed.

Making the announcement of government's decision on raising FRP on sugarcane, Anurag Thakur said, "As you know, PM Modi has continuously worked for the welfare of farmers and agricultural development over the past 10 years, today's first decision is also related to CCA. A decision has been made to fix the prices for the upcoming sugarcane season. Cabinet has approved the Fair and Remunerative Price (FRP) of sugarcane payable by sugar factories for sugar season 2024-25 (October-September)."

"...It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills... It has been decided to fix the price at Rs 340 per quintal for the year 2024-25 as compared to the previous year which was Rs 315, which has increased to Rs 340 per quintal this year..."

"The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at Rs 340/quintal at a sugar recovery rate of 10.25%. This is the historic price of sugarcane which is about 8 per cent higher than the FRP of sugarcane for the current season 2023-24. The revised FRP will be applicable w.e.f. Oct 1, 2024," Cabinet Committee on Economic Affairs (CCEA) said.

"India is paying the highest price for sugarcane in the world and even this year, the government has taken a decision to give a hike of 8 per cent, which means increase from Rs 315 to Rs 340 per quintal. This is in the interest of the farmers, this is our commitment towards farmers' income, at least cost +50 per cent profit, but here if you look, it is close to 107 per cent... even though the price of fertilisers has increased across the world, we didn't let it affect our farmers, we gave subsidy up to Rs 3 lakh crore, we brought Nano Urea... during UPA's 10 years, on wheat, paddy pulses, oilseeds, Rs 5.5 lakh crore was spent during the procurement of MSP, Modi government spent Rs 18 lakh 39 crore..."

Govt was and is ready for talks with protesting farmers

Making announcements about decisions taken by the Cabinet Committee on Economic Affairs, Union Minister Anurag Thakur also spoke on the farmers protest saying that the government was and is ready for talks with the farmers.

He further added that the MSP in India on crops is among the highest in the world.


Govt adds more activites in National Livestock Mission

Among other decisions taken by the Cabinet Committee includes the addition of more activities in the National Livestock Mission.

"Establishment of entrepreneurship for horse donkey, mule, and camel with 50 per cent capital subsidy of up to 50 lakhs will be provided to the Individuals, FPO, SHG, JLG, FCO and Section 8 companies. Also the state government will be assisted for breed conservation of horse, donkey and camel. The Central Government will provide 10 crore for establishment of semen station and nucleus breeding farm for horse, donkey and camel.

Govt to continue schemes on women's safety

The government has approved MHA's proposal of continuation of implementation of Umbrella Scheme on ‘Safety of Women’ at a total cost of Rs.1179.72 crore during the period from 2021-22 to 2025-26.

Out of the total project outlay of Rs1179.72 crore, a total of Rs 885.49 crore will be provided by MHA from its own budget and Rs 294.23 crore will be funded from Nirbhaya Fund.

Govt approves continuation of centrally sponsored Scheme

The Union Cabinet has also approved the proposal of the Department of Water Resources, RD & GR for the continuation of a centrally sponsored Scheme, viz., “Flood Management and Border Areas Programme (FMBAP)” with a total outlay of Rs 4,100 crores for a period of five years from 2021-22 to 2025-26.

Modi govt approves amendment in FDI policy on space sector

The government has approved an amendment in the Foreign Direct Investment (FDI) in the space sector according to which now, the satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector.

"The Indian Space Policy 2023 was notified as an overarching, composite and dynamic framework to implement the vision for unlocking India’s potential in Space sector through enhanced private participation. The said policy aims to augment space capabilities; develop a flourishing commercial presence in space; use space as a driver of technology development and derived benefits in allied areas; pursue international relations and create an ecosystem for effective implementation of space applications among all stakeholders," the government said.

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