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

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Truth about Assam

an additional buffer stock of 5 lakh tonnes would be built up from the 1983-84 sugar output. Earlier, the Budget for 1983-84 had also favoured the sugar industry by abolishing the ad valorem excise duty on sugar and replacing it with a specific duty. As a result, from March 1 factories are paying Rs 50 instead of Rs 72 per quintal on free sale sugar and Rs 38 per quintal on levy sugar. Needless to say, the reduction in excise duty has not at all been reflected in prices. Industry has tried to make out that these measures have barely saved it from going into the red. It has also claimed that it had reduced sugarcane arrears by Rs 130 crore in just the months of May and June.

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