Sugar factories: Maharashtra to ask Centre for financial help | mumbai | Hindustan Times
Today in New Delhi, India
Oct 23, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Sugar factories: Maharashtra to ask Centre for financial help

The meeting between key Maharashtra leaders, Prime Minister Narendra Modi and Union finance minister Arun Jaitley is scheduled to take place on the sidelines of the national executive place in Bangalore.

mumbai Updated: Apr 03, 2015 16:29 IST
HT Correspondent

The Maharashtra government is likely to ask the Central government for financial assistance for the bleeding sugar industry.

The meeting between key Maharashtra leaders, Prime Minister Narendra Modi and Union finance minister Arun Jaitley is scheduled to take place on the sidelines of the national executive place in Bangalore.

Relief and rehabilitation minister Eknath Khadse said the state government expects financial help for the sugar industry. “The gap between the cost of production and the selling price of sugar has gone beyond the control of factories. The state has already tried extending help by waiving off purchase tax and lifting ban on export of molasses. We now need the Centre’s assistance,” he said.

The state is likely to ask for a soft loan (below-market rate of interest) and creation of buffer stock of about 50 lakh metric tonnes to ensure the factories are able to give fair and remunerative prices to farmers. Apart from chief minister Devendra Fadnavis, Khadse, school education minister Vinod Tawde, BJP’s state chief Raosaheb Danve are attending the national executive.