Business News / Central government's gift to 5 crore farmers, big increase in sugarcane purchase prices

Zoom News : Feb 22, 2024, 07:42 AM
Business News: Amidst the farmers' movement, the central government has given a big gift to more than 5 crore farmers of the country before the elections. These more than 5 crore farmers are none other than those cultivating sugarcane. The government on Wednesday approved increasing the FRP of sugarcane by Rs 25 to Rs 340 per quintal for the 2024-25 season. The new sugarcane season starts from October. Let us tell you that Fair and Remunerative Price i.e. FRP is the minimum price that mills have to pay to sugarcane growers.

The decision to increase the FRP of sugarcane was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. This increase of Rs 25 per quintal is the highest increase made by the Modi government. This step has been taken before the general elections. Sugarcane is mainly grown in Maharashtra, Uttar Pradesh and Karnataka. There are more than 5 crore sugarcane farmers in the country.

Cabinet Committee on Economic Affairs took the decision

Information and Broadcasting Minister Anurag Thakur told reporters that keeping in mind the interest of sugarcane farmers, the Cabinet Committee on Economic Affairs has increased the Fair and Remunerative Price (FRP) of sugarcane to 10.25 percent for the sugar season 2024-25 (October-September). The basic recovery rate has been approved at Rs 340 per quintal. He said that 'This is the highest price of sugarcane so far, which is about eight percent more than the FRP of sugarcane for the current season 2023-24.

More than 5 crore farmers will benefit

Thakur said that the new FRP is 107 percent more than the fixed formula for sugarcane and this will ensure prosperity of sugarcane farmers. The minister said that 'India is paying the highest price for sugarcane in the world. The revised FRP will come into effect from October 1, 2024. According to the official statement, this decision of the Central Government will benefit more than five crore sugarcane farmers (including family members) and lakhs of other people associated with the sugar sector. “This reiterates our commitment to fulfill Modi’s guarantee of doubling farmers’ income,” the statement said.

The decision may benefit the elections

Especially in western Uttar Pradesh, the number of sugarcane farmers is very high. The area from Ghaziabad to Saharanpur and Moradabad is recognized as the sugarcane belt. On the other hand, Rashtriya Lok Dal has recently joined NDA. Which has a good hold in West UP especially among the sugarcane farmers. In such a situation, the decision taken for sugarcane farmers can greatly benefit NDA during the elections.