Govt approves Rs 1,000 crore venture fund for space sector
The deployment period of the proposed VC fund is planned to be up to five years from the actual date of start of the fund operations.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved financial assistance of Rs 5.5 per quintal of cane crushed to the mills to clear dues of farmers in the country.
“There is a bumper production of sugarcane this year. In order to offset the cost of cane, the government has decided to give Rs 5.5 per quintal of cane crushed. The assistance will be paid directly to the farmers,” Union Minister Ravi Shankar Prasad said while briefing the media about the Cabinet decisions.
Sugar mills said that they were unable to pay farmers due to a slump in sugar prices in the domestic market.
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Prasad said the government has already raised import duty on sugar from 50 per cent to 100 per cent to protect domestic industry besides making export duty zero.
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