Centre increases Fair and Remunerative Price of sugarcane; will be in force from October 1

Briefing reporters on February 21, 2024 concerning the Cabinet Committee on Economic Affairs resolution, Union Minister Anurag Thakur stated the Narendra Modi authorities all the time gave significance to the problems of farmers  and sugarcane farmers in India get the best value for his or her produce in comparison with different international locations. 
| Photo Credit: PTI

The Cabinet Committee on Economic Affairs, which met in New Delhi on February 21, accepted ₹340/quintal because the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2024-25 at sugar restoration charge of 10.25%. This is about 8% greater than FRP of sugarcane for the present season 2023-24. The revised FRP will be relevant from October 1, 2024.

Briefing reporters concerning the resolution, Union Information and Broadcasting Minister Anurag Thakur stated the Narendra Modi authorities all the time gave significance to the problems of farmers  and sugarcane farmers in India get the best value for his or her produce in comparison with different international locations. “At 107% greater than A2+FL price of sugarcane, the brand new FRP will guarantee prosperity of sugarcane farmers,” he stated. When requested concerning the ongoing protests for assured minimal assist value, he stated many crops in the nation had been procured at the very best costs globally. 

Farmers protest, February 21, 2024 | updates

He stated the choice to extend the FRP of sugarcane would profit 5 crore sugarcane farmers (together with relations) and lakhs of different individuals concerned in the sugar sector. “With every enhance of restoration by 0.1%, farmers will get further value of ₹3.32 whereas the identical quantity will be deducted on discount of restoration by 0.1%. However, ₹315.10/quintal is the minimal value of sugarcane which is at restoration of 9.5%. Even if sugar restoration is lesser, farmers are assured of FRP @ ₹315.10/quintal,” he stated. 

Livestock mission

In one other resolution, the Cabinet determined to switch the National Livestock Mission by together with the extra actions akin to 50% capital subsidy as much as ₹50 lakh for the institution of entrepreneurship for horse donkey, mule and camel to people and collectives of farmers. An analogous subsidy will be offered for growing fodder seed processing infrastructure too. The Cabinet additionally determined to simplify the livestock insurance coverage programme. “The beneficiary share of the premium for the farmers has been decreased and it will be 15% as towards the present beneficiary share of 20%, 30%, 40% and 50%. Remaining quantity of the premium will be shared by the Centre and the State,” a authorities launch stated.