Government announces hike in sugar import duty to 40%

Provides additional interest free loans for sugar mills, while extends sugar exports subsidy till September

Government of India has announced the hike in sugar import duty from 15% to 40%. Government has also extended sugar export subsidy of Rs 3300 per tonne to September 2014. Meanwhile, the Government has also finalized the higher ethanol blending with petrol at 10%.

Further, it is also announced that the sugar mills will get an additional interest free loan of Rs 4400 crore, after mills pay farmers dues of Rs 11000 crore.

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