After the Cabinet Committee on Economic Affairs increased the Fair and Remunerative Price (FRP) of sugarcane, Prime Minister Narendra Modi said on Thursday that the government is committed to fulfilling every resolution related to the welfare of our farmer across the country.
"Our government is committed to fulfilling every resolution related to the welfare of our farmer brothers and sisters across the country. In this context, a historic increase in the price of sugarcane has been approved. This step will benefit crores of our sugarcane-producing farmers," PM Modi posted on X.
Earlier on Wednesday, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at Rs 340 per quintal at a sugar recovery rate of 10.25 per cent.
"This was the historic price of sugarcane, which is about 8 per cent higher than the FRP of sugarcane for the current season (2023-24).
"The revised FRP will be applicable from October 1, 2024."At 107 per cent higher than the A2+FL cost of sugarcane, the new FRP will ensure the prosperity of sugarcane farmers.
"It is noteworthy that India is already paying the highest price of sugarcane in the world and despite that, the government is ensuring the world's cheapest sugar for domestic consumers in Bharat," a Cabinet Committee on Economic Affairs release said.
"This decision of the Central Government is going to benefit more than 5 crore sugarcane farmers (including family members) and lakhs of other persons involved in the sugar sector. It re-confirms the fulfilment of the Modi ki Guarantee to double farmers' income," the release said. -- ANI