The government today approved a remunerative price of Rs 129.84 for a quintal of sugarcane during the 2009-10 season, beginning this month. It also approved a bonus of Rs 50 per quintal for paddy farmers during the 2009-10 marketing season (October-September).

The sugarcane price will be uniformly applicable to all the states and will replace the statutory minimum price of Rs 107.76 a quintal, declared in June this year. The change has been done through an amendment to Section 3 (C) of the Essential Commodities Act, 1955. This new price will be linked to a 9.5 per cent recovery and mills are required to pay Rs 1.37 for every 0.1 per cent increase in recovery beyond 9.5 per cent.

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OVL investment:
The government today allowed ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), to invest up to $173.85 million in two gas blocks off Myanmar. The investment will be made pending finalisation of the Field Development Plan and a government approval for a comprehensive investment proposal.

Road projects cleared:
The Cabinet Committe on Infrastructure cleared three projects under the third phase of the National Highway Development Project. It included four laning of Barasat-Krishnanagar (31 km to 115 km) section of NH-34 in West Bengal, four laning of the Moradabad-Bareilly section of NH-24 in Uttar Pradesh, and four laning of the Rohtak-Bawal section of NH-71 in Haryana.

Amendment to Cooperative Act:
The Cabinet also gave its approval to the proposal of the Department of Agriculture and Cooperation to introduce the Constitution (One Hundred and Tenth Amendment ) Bill, 2009, in the ensuing winter session of Parliament for incorporation of special provisions relating to Cooperative Societies in the Constitution.

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