Sugar mills will have to pay interest to farmers, says UP government

The Adityanath govt has reversed Akhilesh Yadav cabinet's decision to waive off interest payment by defaulting sugar mills in three successive crushing seasons during 2012-15

In an important development just days ahead of the Lok Sabha elections in the sugarcane belt of Western Uttar Pradesh, the Yogi Adityanath government has reversed Akhilesh Yadav cabinet’s decision to waive off interest payment by defaulting sugar mills in three successive crushing seasons during 2012-15.

UP cane commissioner Sanjay Bhoosreddy today filed an affidavit in the Allahabad High Court apprising the bench of the state government’s decision, which would necessitate interest payment by mills. The units running in losses are liable to pay interest at a rate of 7% per annum, while those making profits would pay farmers at