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Cabinet increases FRP for sugarcane to Rs 340/qtl, gives boost to women safety, space sector and Nat.


Date: 22-02-2024
Subject: Cabinet increases FRP for sugarcane to Rs 340/qtl, gives boost to women safety, space sector and Nat
Union cabinet decided to increase fair and remunerative prices for sugarcane for the next season by Rs 25 to Rs 340 per quintal, from Rs 315 earlier, said Anurag Thakur while addressing media on Wednesday.


"It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills...It has been decided to fix the price at Rs 340 per quintal for the year 2024-25 as compared to the previous year which was Rs 315, which has increased to Rs 340 per quintal this year," said Thakur.
 ..

FRPs for sugarcane are typically fixed to ensure a guaranteed price to sugarcane growers and thus it does not take into account whether sugar mills will generate profit or stay in the red. Analysts opine that higher FRPs generally hurt the margins of the sugar mills.

The FRP of sugarcane is fixed to ensure a guaranteed price to sugarcane growers. According to a 2022 report, the government has increased FRP by more than 34 per cent in the last eight years.

It also includes establishment of entrepreneurs for fodder seed processing Infrastructure (Processing & Grading unit/Fodder storage godown) with 50 per cent capital subsidy up to Rs 50 lakh to the private companies, start-ups /SHGs /FPOs /FCOs /JLGs /Farmers Cooperative societies (FCO), Section 8 companies establishment of Infrastructure like construction of building, receiving shed, drying platform, machinery etc.


"For increasing the fodder cultivation areas, the state government will be assisted for fodder cultivation in the non —forest land, waste land/range land/ non arable as well as forest land "Non-Forest Wasteland/Rangeland/Non-arable Land" and "Fodder Production from Forest Land" as well as in the degraded forest land. This will increase the fodder availability in the country," the minister said.


The Livestock Insurance programme has also been simplified. The beneficiary share of the premium for the farmers has been reduced to 15 per cent as against the current beneficiary share of 20 per cent, 30 per cent, 40 per cent and 50 per cent. Remaining amount of the premium will be shared by the Centre and the State at 60:40 for all states, 90:10.


The number of animals to be insured has also been increased to 10 cattle unit instead of 5 cattle unit for cattle sheep and goat.


The cabinet approved the proposal of Ministry of Home Affairs (MHA) related to continuation of implementation of Umbrella Scheme on ‘Safety of Women’ at a total cost of Rs 1179.72 crore during the period from 2021-22 to 2025-26.


Out of the total project outlay of Rs 1179.72 crore, a total of Rs 885.49 crore will be provided by MHA from its own budget and Rs 294.23 crore will be funded from Nirbhaya Fund.


"Safety of Women in a country is an outcome of several factors like stringent deterrence through strict laws, effective delivery of justice, redressal of complaints in a timely manner and easily accessible institutional support structures to the victims. Stringent deterrence in matters related to offences against women was provided through amendments in the Indian Penal Code, Criminal Procedure Code and the Indian Evidence Act," an official government release stated.

Source Name : Economic Times
 

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