 "From the 2018-19 sugarcane season starting October, the Centre not only increased the base recovery rate from 9.5 to 10 per cent, but also raised the premium extra yield in sugar from Rs 2.68 per quintal to Rs 2.75 a quintal")
In a breather for private sugar mills weighed down by outstanding sugarcane arrears of almost Rs 80 billion, the Yogi Adityanath government has given an additional window of two weeks to apply for the state-sponsored soft loan totalling Rs 40 billion.
To aid the settlement of cane arrears by private millers, the state government had earlier created a corpus of Rs 40 billion to be offered as a soft loan. The beleaguered mills were supposed to apply for the soft loan by October 15, while commercial banks were mandated to process and clear the loan proposals by October 31.
However,
