Government Increases Sugarcane Purchase Price by Rs 25 to Rs 340 per Quintal

The government has raised the Fair and Remunerative Price (FRP) of sugarcane by Rs 25 to Rs 340 per quintal for 2024-25. This decision aims to support farmers and ensure their welfare amidst ongoing agricultural reforms. Additionally, the Cabinet Committee on Economic Affairs approved various initiatives, including talks with protesting farmers and schemes for livestock management, women's safety, and flood management.

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In a significant move to bolster the agricultural sector, the government has announced a hike in the sugarcane procurement price by Rs 25, reaching Rs 340 per quintal for the upcoming season 2024-25. Union Minister Anurag Thakur emphasized the decision's alignment with Prime Minister Narendra Modi's longstanding dedication to farmers' welfare and agricultural progress.

"The Cabinet Committee on Economic Affairs has greenlit the Fair and Remunerative Price (FRP) of sugarcane for the 2024-25 sugar season, effective from October 1, 2024," stated Anurag Thakur. This decision aims to ensure fair compensation to farmers, reflecting a commitment to their prosperity.

The revised FRP, approved at Rs 340 per quintal, marks an 8% increase compared to the previous year, underscoring the government's resolve to support farmers amid economic challenges. Anurag Thakur highlighted India's position as the world's highest payer for sugarcane and emphasized the government's efforts to maintain farmers' interests.

Moreover, addressing the ongoing farmers' protests, Anurag Thakur reaffirmed the government's readiness for dialogue, demonstrating a commitment to resolving issues through constructive engagement. He further stressed the importance of India's robust Minimum Support Price (MSP) system, which ensures farmers receive competitive rates for their produce.

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In addition to sugarcane pricing, the government announced expansions in the National Livestock Mission, aimed at fostering entrepreneurship and breed conservation in sectors such as horse, donkey, mule, and camel farming. Financial incentives and support for semen station and nucleus breeding farm establishment further underscore the government's holistic approach to agricultural development.

Furthermore, initiatives addressing women's safety, flood management, and amendments in Foreign Direct Investment (FDI) policy in the space sector were approved, reflecting the government's multifaceted efforts to promote inclusive growth and sustainable development.

In summary, the government's decision to raise sugarcane procurement prices, coupled with various policy initiatives, underscores its commitment to fostering agricultural prosperity and holistic socioeconomic development.