sugarcane FRP hike: Cupboard approves hike in sugarcane FRP by Rs 25 to Rs 340 per quintal for 2024-25 season
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The choice to extend the FRP was taken on the assembly of the Cupboard Committee on Financial Affairs (CCEA) chaired by Prime Minister Narendra Modi. It additionally comes forward of the final elections.
Sugarcane is grown primarily in Maharashtra, Uttar Pradesh, and Karnataka.
The CCEA permitted the FRP of sugarcane for 2024-25 at Rs 340 per quintal at sugar restoration fee of 10.25 per cent, Data and Broadcasting Minister Anurag Thakur instructed reporters right here.
“This can be a historic worth of sugarcane which is about 8 per cent larger than FRP of sugarcane for present season 2023-24,” he added.
The brand new FRP is 107 per cent larger than A2+FL price of sugarcane, Thakur stated, including that this might guarantee prosperity of sugarcane farmers. “India is paying the best worth of sugarcane on the planet,” the minister asserted. The revised FRP shall be relevant with impact from October 1, 2024.
The FRP has been decided on the premise of suggestions of the Fee for Agricultural Prices and Costs (CACP).
“This determination of central authorities goes to profit greater than 5 crore sugarcane farmers (together with members of the family) and lakhs of different individuals concerned in sugar sector,” an official assertion stated.
“It re-confirms fulfilment of Modi ki Assure to double farmers’ earnings,” it added.
With the CCEA approval, sugar mills pays FRP of sugarcane at Rs 340 per quintal at restoration of 10.25 per cent.
With every enhance of restoration by 0.1 per cent, farmers will get further worth of Rs 3.32 whereas the identical quantity shall be deducted on discount of restoration by 0.1 per cent.
Nonetheless, Rs 315.10 per quintal is the minimal worth of sugarcane which is at restoration of 9.5 per cent.
Within the final 10 years, the federal government stated it has ensured that farmers acquired the suitable worth for his or her crop in proper time.
“99.5 per cent cane dues of earlier sugar season 2022-23 and 99.9 per cent of all different sugar seasons are already paid to farmers resulting in the bottom cane arrears pending in historical past of sugar sector,” the federal government stated.
Thakur stated greater than 80 per cent of complete excellent quantity has already been paid to farmers for the present 2023-24 season.
The FRP was Rs 210 per quintal in 2013-14 advertising 12 months, Rs 220 in 2014-15, Rs 230 in 2015-16 and 2016-17. It was Rs 255 in 2017-18, Rs 275 in 2018-19 and 2019-20, Rs 285 in 2020-21, Rs 290 in 2021-22, Rs 305 in 2022-23 and Rs 315 per quintal in 2023-24 advertising 12 months.
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