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The Uttar Pradesh government Tuesday decided to provide soft loans worth ₹4,000 crore to sugar mills through the nationalised and other banks.
A decision in this regard was taken in the Cabinet meeting presided over by Chief Minister Yogi Adityanath.
Briefing newspersons after the meeting, the Chief Minister said, “In order to immediately clear pending farmers’ dues of the crushing season 2016-17 and 2017-18 to cane growers, the Cabinet approved ₹4,000 crore soft loans to private sugar mills through nationalised and other banks,” Adityanath said.
Budgetary provisions of ₹4,000 crore for soft loans were made in the supplementary budget for payment of cane dues. This amount will be extended to mills though the banks which they will provide to farmers directly in their bank accounts through RTGS and NEFT, he said.
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