Unsettled sugar cane arrear in UP- a whopping Rs 1,130 crore is a problem the new BJP govt has not been able to solve. It was one of pre-poll promises of the ruling party, reports Business Standard.
Of the outstanding amount, the private millers owe the bulk at almost Rs 945 crore, the remaining Rs 185 crore is due from the state co-operative federation units.
As per latest data, UP mills – against consolidated payables of Rs 25,386 crore – had collectively paid about Rs 24,256 crore, which leaves Rs 1,130 crore as arrears.
The sugar industry has long been demanding a viable price and revenue sharing formula in UP to insulate the sugar sector from pricing and cyclical fluctuations.
