Cabinet approves assistance of Rs 3,500 crore for sugarcane farmers

The Cabinet Committee on Economic Affairs (CCEA) has approved assistance of three thousand 500 crore rupees for sugarcane farmers. Briefing the media in New Delhi after the Cabinet meeting, Information and Broadcasting Minister Prakash Javadekar said, Cabinet has taken the decision to help farmers directly by depositing money of subsidy into their accounts. It will benefit five crore farmers and five lakh workers.

Mr Javadekar said, CCEA also approved revised cost estimate of North Eastern Region Power System Improvement Project for six States for strengthening of the Intra-State Transmission and Distribution Systems. He said, the projects reflect government’s commitment to the total economic development of North Eastern Region and to strengthen the Intra-State Transmission and Distribution Infrastructure in the Region.

The Cabinet also approved auction of spectrum in 700 megahertz, 800 megahertz, 900 megahertz, 1800 megahertz, 2100 megahertz, 2300 megahertz and 2500 megahertz frequency bands, for validity period of 20 years. Talking to reporters, Communication and IT Minister Ravi Shankar Prasad said, a total of 2 thousand 2 hundred 51.25 megahertz is being offered with total valuation of 3 lakh 92 thousand 3 hundred 32.70 crore rupees at reserve price.

Petroleum and Natural Gas Minister Dharmendra Pradhan has welcomed the cabinet’s decision to transfer 3,500 crore rupees export subsidy on sugar directly to the bank accounts of the sugarcane farmers. He said, this will put an end to the problems plaguing them for years. Mr Pradhan said it will boost sugarcane production leading to additional ethanol production and employment generation besides adding to the farmers’ income.

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