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Sugar decontrol: Centre seeks states' views on Rangarajan report. Sugar stocks rally after the Rangarajan report; Shree Renuka, Simbhaoli top buys. All rights reserved. For reprint rights: Times Syndication Service. Politics and Nation. Defence Defence National International Industry. Company Corporate Trends Deals.
International Business World News. Market Watch. Pinterest Reddit. Sugar is a regulated sector in the country. The sector is controlled by the government right from production through marketing of the commodity. Some cane farmers have supported the proposal. In the report, the committee has recommended removal of levy obligation on sugar mills. It has further suggested that states which want to provide sugar through ration shops may henceforth procure it from the market directly according to their requirement and may also fix the issue price, he said.
Barring two key regulations with respect to fixing sugarcane price and sharing of 70 per cent revenue by sugar firms with farmers, the Rangarajan report has suggested scrapping of major government controls on the sugar sector as part of the reform. It has suggested giving freedom to mills to sell sugar in the open market and removal of obligation on part of mills to supply 10 per cent of sugar at cheaper rate to the government to meet the ration shops demand.
In the long term, it has recommended a stable export and import policy besides doing away with the cane area reservation and minimum distance criteria between sugar mills and removal of controls on by-products like molasses. The industry has been demanding immediate withdrawal of some of the controls saying it would help achieve higher growth of per cent and boost investment into the sector.
The Rangarajan panel is not the first committee set up by the government to study reforms in the sugar industry. Recommendations of the Tuteja Committee and Thorat Committee have not yet been implemented. Rangarajan report. Add Your Comments. Follow us on. Download et app. Become a member. View: State governments can be better armed financially to fight Covid by issuing public health bonds. To see your saved stories, click on link hightlighted in bold. Fill in your details: Will be displayed Will not be displayed Will be displayed.
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Government eases curbs on sugar sector
CCEA clears recommendations on sugar sector made by Rangarajan panel; subsidy burden to rise. New Delhi: Pushing ahead with long-pending reforms of the sugar industry, the cabinet on Thursday approved the dismantling of rules requiring sugar mills to sell the sweetener at below-market prices through the public distribution system PDS and abolished curbs on open market sale. The cabinet committee on economic affairs cleared the recommendations made by a panel headed by C. The report was submitted in October last year. The government till now also curbed the sale of sugar by mills in the open market. Food minister K.
Rangarajan report on sugar decontrol under consideration: Govt