'Sugar Daddy' Modi Offers Sops To Sugar Producers But Conditions Apply

摘要

The Cabinet approved early June, a Rs 8,500 crore bailout package for the sugar industry that includes Rs 4,500 crore soft loan for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply. The Cabinet, headed by Prime Minister Narendra Modi, also approved a Rs 1,300 crore interest subversion on the loan to be provided for creating new ethanol production capacity as also expanding the existing one, sources said.