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Sugar to turn sour: Price set for an increase, import duty also to soar
The government yesterday announced a series of measures for the sugar industry. There will be an increase in the import duty by 15 – 40 percent, to improvise the financial health of the industry but may end up pushing the price of the sweetener by Rs 2-3 per kg for consumers.

The industry is presently receiving zero-interest load from banks. The BJP govt will soon start working on the package, which includes a loan package of around Rs 4,400 crore, doubling the ethanol blending level in petrol to 10 percent and extension of export subsidies till September, even at the risk of attracting penal action at the World Trade Organization, reported The Times of India.

Ram Vilas Paswan, Food Minister said that the benefits will be enjoyed by those mills only which guarantee that they will clear the arrears of cane garners. But these benefits will be provided to set of producers with certain limits. "All these decisions were unanimous...If the industry gives in writing today, we will put into execution whatever we have announced today. It all depends on the industry now by when can they pay the farmers, they will receive the aid accordingly," said Paswan.

A number of ministers attended the meeting where the package was cleared, including road transport minister Nitin Gadkari. During the election campaign, Narendra Modi had promised to keep its commitment to cane growers in Uttar Pradesh, it may be for the same reason that such measures has been announced.

Many claim that the focus is also on Maharashtra, where the polls is set in the next three months.

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