ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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India, Nepal and Bhutan-Of Trade and Transit

April 1, 1978 Ministry of Food and Agriculture, are not supplied in "time to cither Parliament or the Press. For example, sugar statistics for the October 1977-January 1978 period were made-available only a few days back In any case, there is nothing unusual about the current rise in the level of sugar stocks, which every season reach their peak in April or May, From then on, since the monthly release would be several times the monthly production, the stocks will go on being depleted till December at least The sugar industry has been harping on the losses made by it in the last three seasons. If the government were serious, it could expose these false claims. But of: course it does not. The fact is that the balance-sheet of the sugar companies do not show gains of the owners through tax evasion while making self-assessment of excise duty and through benami sales. The proportion of sugar production which escapes excise duty has been estimated at as much as 10 per cent Though managing agents and sole selling agencies have been legally abolished, the control of the sugar industry remains firmly in the hands of some of the large houses. For these the industry remains a bountiful milch cow, whatever the state of the balance-sheets of the sugar companies.

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