“Ministry of Cooperation has launched a new central sector scheme named ‘Grant-in-aid to NCDC for Strengthening Cooperative Sugar Mills’ for implementation during financial year 2022-23 and 2023-24 with total outlay of Rs 1,000 crore”, said Union Home and Cooperation Minister Amit Shah while replying to a query raised by a Lok Sabha MP.
“The NCDC is the implementing agency of the scheme. Under this scheme grant of Rs 1000 Cr. will be provided to NCDC, who will leverage the grant up to 10 times to provide loans up to Rs 10,000 crore to Cooperative Sugar Mills for the purpose of setting up ethanol plants or setting up cogeneration plants or for working capital or for all three purposes”, Shah informed.
“Cooperative Sugar Mills will be put on par with private companies for ethanol procurement by the Ministry of Petroleum under the Ethanol Blending Programme (EBP)”, he said while replying to a query.
He further added, to realize the vision of ‘Sahakar se Samriddhi’ through expanding business and increasing the profit of Cooperative Sugar Mills (CSMs), the Government has taken several steps to resolve various pending issues of CSMs including those related to income tax.