The Cabinet Committee on Economic Affairs today approved Rs 3,500 crore subsidy for sugar farmers, said Union Minister Prakash Javadekar.  Cabinet has taken a historic decision to help farmers directly, by putting money of subsidy into their bank accounts. The subsidy will be given on 60 lakh tons of sugar exports at the rate of Rs 6,000 per ton," Javadekar said addressing the press.

With an estimated sugar production of 310 lakh tonnes, India will have another surplus year and needs to continue to export about 60-70 lakh tonnes during 2020-21 season, the industry lobby said in a November statement.

The cabinet also approved payment of subsidy. An amount of Rs 5,361 crore would be put in the bank accounts of the farmers within a week, said the minister.

“This will enable payment of dues of the sugarcane farmers. The government will incur about Rs 3,500 crore for this purpose, and this assistance would be directly credited into farmers' accounts on behalf of sugar mills against cane price dues and subsequent balance, if any, would be credited to mill's account," said CCEA in a statement.

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