Sun. Jul 14th, 2024

PM Modi said he is ‘committed to fulfilling every resolution about farmers’ welfare’. Everything you need to know

PM Modi said he is 'committed to fulfilling every resolution about farmers' welfare'. Everything you need to knowPM Modi said he is 'committed to fulfilling every resolution about farmers' welfare'. Everything you need to know

PM Modi: On Thursday, following the decision by the Cabinet Committee on Economic Affairs to increase the Fair and Remunerative Price (FRP) of sugarcane, Prime Minister Narendra Modi affirmed the government’s dedication to enacting all resolutions aimed at the welfare of farmers throughout the nation.

PM Modi stated in Hindi on the X platform, “Our government is committed to implementing every resolution related to the welfare of our farmer brothers and sisters across the country.” In this context, an unprecedented increase in the cost of sugarcane acquisition has been granted. This measure will benefit crores of sugarcane farmers.”

PM Modi tweeted on the same day that a young farmer died in the ongoing farmers’ protest on the Punjab-Haryana border. Subhkaran Singh (21), a native of Baloke village in Punjab’s Bathinda district, was killed after the Haryana Police fired tear gas shells to disperse Punjab farmers at the Khanauri border post as they attempted to go towards barricades, halting their protest march to Delhi.

On that very day, Prime Minister Narendra Modi chaired the Cabinet Committee on Economic Affairs, which approved the Fair and Remunerative Price (FRP) of sugarcane for the Sugar Season 2024-25 cost ₹340 per quintal, yielding a 10.25% sugar recovery rate. This marked a historic milestone in sugarcane pricing, representing an approximate 8% increase from the FRP of the current season (2023-24). The revised FRP is set to come into effect on October 1, 2024.

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Sugarcane producers will benefit from the new FRP, which is 107% more expensive than the A2 FL cost of sugarcane. According to a Cabinet Committee on Economic Affairs announcement, “It is noteworthy that India is already paying the highest price for sugarcane in the world, and despite that, the government is assuring that home consumers in Bharat have access to the world’s cheapest sugar.

More than 5 crore sugarcane growers (including family members) and thousands of other people working in the sugar industry will profit from this Central Government move. It reaffirms that the Modi ki Guarantee to quadruple farmers’ income has been fulfilled,” the statement read.

Thanks to this clearance, sugar mills will pay FRP for sugarcane at a recovery rate of 10.25 percent, or ₹340 per quintal. Farmers will receive an extra price of ₹3.32 for every 0.1 percent rise in recovery, while the same amount would be subtracted from recovery for every 0.1 percent decrease. Nonetheless, sugarcane, which is recovering at a rate of 9.5%, must sell for at least ₹315.10 per quintal. Farmers are guaranteed FRP at ₹315.10 per quintal, even in the event of a lower sugar recovery.

As per the Cabinet Committee on Economic Affairs, the government has successfully guaranteed that farmers are compensated fairly and punctually for their crops over the past decade. Outstanding dues from the previous sugar season 2022-23, accounting for 99.5%, along with payments from all previous sugar seasons, covering 99.9%, have already been disbursed to farmers. This achievement has led to the lowest recorded level of pending cane arrears in the history of the sugar sector.

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