PM summons Meeting

August 01, 2015 | 12:42 PM | 6 Views
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Finance Minister Arun Jaitley, Agriculture Minister Radha Mohan Singh, Food Minister Ram Vilas Paswan and Commerce Minister Nirmala Sitharaman will present the meeting convened by Narendra Modi to discuss about Sugar Sector Crisis.

According to the reports, “The PM's meeting on sugar is scheduled for today (August 1, 2015). The food minister will make presentation on the sugar sector."

To overcome the sugar crisis, the food ministry had proposed various short and long term measures which include mandatory higher exports, increased ethanol blending with petrol and expansion of co-generation power capacity.

The ministry proposed that, increased ethanol blending with petrol to six percent from five percent to ultimately achieve 10 percent blending over the next five years as a part of long term solution.

If there is any loss in the exports, then the tax on sugar will be increased above the existing 24 paise/Kg. Also decided to continue all the schemes which ever they are following for ethanol production.

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