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Business News/ Politics / Policy/  Cabinet approves 11% hike in sugarcane remunerative price, new AIIMS in Kamrup
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Cabinet approves 11% hike in sugarcane remunerative price, new AIIMS in Kamrup

Cabinet approved a 11% hike in fair and remunerative price for sugarcane to Rs255 per quintal for 2017-18, decided to allocate 2.5% of the proceeds of road fund for development of waterways

Fair and remunerative price (FRP) is the price at which sugar mills purchase cane from growers. Photo: MintPremium
Fair and remunerative price (FRP) is the price at which sugar mills purchase cane from growers. Photo: Mint

New Delhi: The union cabinet on Wednesday approved a 11% hike (compared to the previous year) in fair and remunerative price (FRP) for sugarcane to Rs255 per quintal for the 2017-18 sugar season. FRP is the price at which sugar mills purchase cane from growers.

“The decision was taken to provide appropriate price to farmers," said an official statement, adding, following steps taken by the Centre dues to sugarcane farmers (in 2016-17) is the lowest in five years.

In another decision, the cabinet decided to allocate 2.5% of the proceeds of central road fund (CRF) for development and maintenance of national waterways (NWs). An allocation of 2.5% of CRF proceeds would provide approximately Rs2,000 crore per annum.

To implement the move the ministry of road transport and highways will table the Central Road Fund (Amendment) Bill, 2017 in the ensuing monsoon session of the Parliament.

The cabinet also approved Noida-Greater Noida Metro Rail Project with length of around 30 km at a cost of Rs5,503 crore which is slated to be completed by 2018. The government in a press statement said that a population of around 7.05 lakh in Noida and Greater Noida are likely to benefit from the project.

Meanwhile, the cabinet also cleared a 750-bed new AIIMS in Kamrup, Assam at the cost of Rs1,123 crore which will be setup under Pradhan Mantri Swasthya Suarkhsa Yojana and will be completed in a period of 48 months from date of approval.

It also approved raising of bonds worth Rs2,360 crore for renewable energy by the ministry of new and renewable energy.

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Published: 25 May 2017, 01:17 AM IST
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