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PM Modi Affirms Commitment To Farmers' Welfare Amidst Historic Increase In Sugarcane Prices
- Prime Minister Narendra Modi reassures his dedication to farmers' well-being as the Centre approves a significant hike in the minimum price for sugarcane.
- Learn about the government's latest decision and its implications for sugarcane growers, as PM Modi underscores efforts to ensure fair prices and timely payments for farmers across the country.
Prime Minister Narendra Modi reaffirmed his commitment to the welfare of farmers on Thursday following the Centre's decision to increase the minimum price that mills must pay to sugarcane growers. PM Modi emphasized the government's dedication to fulfilling resolutions aimed at benefiting farmers nationwide, citing a significant hike in the price of sugarcane purchase as evidence of this commitment. The Cabinet Committee on Economic Affairs, chaired by PM Modi, approved the Fair and Remunerative Price (FRP) of sugarcane for the Sugar Season 2024-25 at ₹340/quintal with a sugar recovery rate of 10.25%.
According to a press release from the Cabinet Committee on Economic Affairs (CCEA), this decision ensures that sugar mills will pay sugarcane growers the FRP of ₹340/quintal at a recovery rate of 10.25%. The release also outlines that for every increase of recovery by 0.1%, farmers will receive an additional price of ₹3.32, while a similar deduction will be made for a reduction in recovery by 0.1%. Additionally, it is noted that ₹315.10/quintal is established as the minimum price of sugarcane, ensuring that even if the sugar recovery is lower, farmers are guaranteed the FRP at ₹315.10/quintal.
The statement further highlights the government's track record of ensuring farmers receive fair prices for their crops in a timely manner, citing that 99.5% of cane dues from the previous sugar season and 99.9% from all other sugar seasons have been paid to farmers. It also notes that with timely policy interventions, sugar mills have become self-sustainable, eliminating the need for financial assistance from the government since the Sugar Season 2021-22. Despite this, the Central Government continues to ensure 'Assured FRP and Assured Procurement' of sugarcane for farmers.
