Cabinet Approves Increase in Sugarcane Prices and Livestock Mission Modifications

Cabinet Approves Increase in Sugarcane Prices and Livestock Mission Modifications

Cabinet Committee on Economic Affairs Decision

  • Date and Location: February 21, New Delhi
  • Approval: Fair and Remunerative Price (FRP) for sugarcane for sugar season 2024-25.
  • Amount: ₹340/quintal
  • Recovery Rate: 10.25%
  • Increase from Previous Season: Approximately 8%
  • Applicability: From October 1, 2024

Statement by Anurag Thakur

  • Role: Union Information and Broadcasting Minister
  • Government’s Stance: Emphasizes importance of farmers’ issues.
  • Comparative Price: Highlights India’s higher sugarcane prices compared to other countries.
  • Prosperity: New FRP ensures sugarcane farmers’ prosperity.
  • Addressing Protests: Highlights competitive prices for various crops.

Benefits of Increased FRP

  • Beneficiaries: Five crore sugarcane farmers and associated persons.
  • Price Adjustments: ₹3.32 increase for every 0.1% increase in recovery; deduction for reduction.
  • Minimum Price Assurance: ₹315.10/quintal at 9.5% recovery.

Modifications to National Livestock Mission

  • Inclusions: Additional activities including capital subsidy for establishing entrepreneurship and fodder seed processing infrastructure.
  • Subsidy Details: 50% capital subsidy up to ₹50 lakh.
  • Simplification of Livestock Insurance:
    • Premium Share: Reduced beneficiary share from 20-50% to 15%.
    • Government’s Share: Covers remaining premium with Centre and State.

Multiple Choice Questions (MCQs):

  1. When was the Fair and Remunerative Price (FRP) for sugarcane for the 2024-25 season approved by the Cabinet Committee on Economic Affairs?
    • A) February 21, New Delhi
    • B) February 20, Mumbai
    • C) March 1, Chennai
    • D) February 22, Kolkata
    • Answer: A) February 21, New Delhi
  2. What is the approved amount of the Fair and Remunerative Price (FRP) for sugarcane for the 2024-25 season?
    • A) ₹320/quintal
    • B) ₹340/quintal
    • C) ₹300/quintal
    • D) ₹350/quintal
    • Answer: B) ₹340/quintal
  3. What is the recovery rate considered for the approved FRP of sugarcane for the 2024-25 season?
    • A) 11.5%
    • B) 10.25%
    • C) 9.75%
    • D) 12%
    • Answer: B) 10.25%
  4. How much higher is the approved FRP of sugarcane for the 2024-25 season compared to the previous season?
    • A) Approximately 5%
    • B) Approximately 10%
    • C) Approximately 8%
    • D) Approximately 12%
    • Answer: C) Approximately 8%
  5. What is the minimum price assured for sugarcane in case of lower recovery rates?
    • A) ₹300/quintal
    • B) ₹315.10/quintal
    • C) ₹330/quintal
    • D) ₹320/quintal
    • Answer: B) ₹315.10/quintal