Sugar sector to get Rs 500 crores for minor development: Government

A budget of Rs 496 crores was allocated for the SDF in the year 2017-18. This time there is a slight increase in this can be seen.

New Delhi: There are just 9 days left to present the budget, and the discussion of what is going to happen in the coming budget is being increasing day by day. Now a big news has come from the government about this.

The government can make a provision of Rs 500 crores for the Chinese Development Fund-Sugar Development Fund (SDF) in the coming Budget 2018-19, which will increase the name compared to this year's budget. A budget of Rs 496 crores was allocated for the SDF in the year 2017-18.

After the GST, the
Food Ministry does manage the management of the SEAS SDF. It is used to provide mills at a lower interest rate to provide loans. For the last financial year, this fund was mobilized by cess on sugar mills. After the GST was implemented in July, the Chinese cess was abolished. In the year 2017-18, provision of Rs 496 crore for SDF was made.

Sources said that most of the funds kept for SDF have been used in the current financial year. It is likely that the budgetary provision for SDF can be increased to a little over Rs 500 crore in the next financial year.

SDF was formed in 1982 for financial assistance to the Chinese industry. Since the formation, this fund has distributed 7500 crore rupees to the sugar factories.