Union Minister Prakash Javadekar gave information in a press conference on Wednesday’s decisions in the cabinet. He told that the government has announced a subsidy on export of 60 lakh tonnes of sugar this year, which will go directly to the account of the farmer. Apart from this, it has also been decided to auction telecom spectrum.
Incentive will be available for Chinese export
this season, the central government will give subsidy on sugar exports. The cabinet has taken this important decision on Wednesday. This time, farmers will get subsidy directly. Apart from this, it has also been decided to auction telecom spectrum.
Union Minister Prakash Javadekar gave information in a press conference of the CCEA decisions made in the cabinet on Wednesday. He told that the government has announced a subsidy on the export of 60 lakh tonnes of sugar this year, which will go directly to the farmers’ account.
Subsidy of around Rs 26,800 crore
He said that out of the previously announced subsidy, Rs 5,361 crore will be deposited in the account of the farmer in a week and after this a subsidy of 3500 crore will be given. After this, a subsidy of Rs 18,000 crore will be deposited directly into the account of farmers after export. This will benefit 5 crore farmers and this will also be of benefit for about 5 lakh laborers of sugar industry.
He told that this year sugar consumption will be around 260 lakh tonnes and production will be 310 lakh tonnes. This will give a big boost to Chinese sales.
Communications Minister Ravi Shankar Prasad said that the government has decided to auction the spectrum. The total spectrum of 2251 MHz will be auctioned. It will be auctioned for bands of 700,800,900, 1800,2100, 2100, 2300 and 2500 MHz. This month a notice inviting application will be issued and this auction will be executed in March.
He said that the previous spectrum was allotted four years ago. Therefore, due to the passage of four years, the need was being felt by the industry. Its terms and conditions will be the same, which was in the year 2016.
Apart from this, it has been decided to establish a National Security Directorate of Telecommunication sector in terms of national security. This will identify whether the telecom equipment is from a reliable source.
Subsidy was also received last year
Due to the subsidy given in the last season ending in September, sugar mills exported a record 57 lakh tonnes. The All India Sugar Traders Association said that exports have slowed due to no subsidy announcement this season. With this move of the government, the prices of sugar in the international market can be reduced from 17 US cents per pound to 14 US cents per pound.
India is the second largest producer of sugar in the world. In Maharashtra, the rate of sugar released from the factory is around Rs 31,000 per tonne, while in Uttar Pradesh it is around Rs 33,500.