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Cabinet okays Rs 15,500-cr loan for sugar mills to boost ethanol capacity

Sugarcane dues have crossed Rs 20,000 crore till February of this marketing year

Cabinet okays Rs 15,500-cr loan for sugar mills to boost ethanol capacity
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Sanjeeb MukherjeeAgencies New Delhi
To boost ethanol capacity in sugar mills, the Cabinet Committee on Economic Affairs (CCEA) on Thursday cleared an extra soft loan of Rs 15,500 crore under a recently launched scheme. The government will bear an expenditure of Rs 3,355 crore as interest subvention for this.

This includes a soft loan of Rs 2,600 crore which will be provided to molasses-based standalone distilleries to augment capacity and set up new units.

In June 2018, the government announced a soft loan of Rs 4,400 crore and provided an interest subvention of Rs 1,332 crore to mills over five years, including a moratorium

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