No loan waiver to sugar mills, says government

New Delhi, March 15 (IANS) There would not be any loan waiver or new package to sugar mills as their dues to farmers have already mounted to Rs.15,903 crore, parliament was told on Tuesday.

Depressed prices and surplus output in the past four years hit sugar mills liquidity leading to accumulation of arrears to sugarcane farmers, Food Minister Ram Vilas Paswan told the Lok Sabha in a written reply.

He added that there is no new proposal under consideration to provide any incentive or package including the creation of buffer stocks.

Piling over the past three years, arrears to farmers reached Rs.15,893.36 crore by March 5.

Of the total amount, Rs.13,644 crore accounts from the ongoing 2015-16 season, Rs.1,366 crore from 2014-15 and Rs.882.07 crore from 2013-14 and older seasons, Paswan added.

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