Modi Government Approves Hike In Sugarcane Procurement Prices Amid Farmers' Protest

New Delhi: The Cabinet Committee on Economic Affairs led by Prime Minister Narendra Modi on Wenesday approved the Fair and Remunerative Price (FRP) of sugarcane at Rs 340/quintal at a sugar recovery rate of 10.25%, news agency ANI quoted as saying CCEA said.The decision by the Narendra Modi-led NDA government comes amid the ongoing agitation of the farmers. Addressing a press conference, I&B Minister Anurag Thakur said, "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..." Thakur added.

#WATCH | Union Minister Anurag Thakur says "...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… pic.twitter.com/3QRlh4e2gd — ANI (@ANI) February 21, 2024

Thakur claimed that the government is paying 107 per cent higher for sugarcane to farmers than the A2 plus FL cost formula for sugarcane. Under PM-KISAN scheme, Thakur said the government has paid Rs 2.81 lakh crore to around 12 crore farmers. He attacked the Congress for not doing enough for farmers, saying "Congress ke samay na samman tha na nidhi thi".

Under PM-KISAN, the Centre pays Rs 6,000 per year to eligible farmers in three equal instalments. "This is our commitment and duty towards the farmers," he said.

Hailing the price revision as 'historic', the Cabinet Committee on Economic Affairs (CCEA) said that " the revised price of sugarcane is about 8% higher than the FRP of sugarcane for the current season 2023-24." The revised FRP will be applicable w.e.f. 01 Oct 2024.