The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the creation of buffer stock of 40 lakh metric tonnes (LMT) of sugar for one year and to incur estimated maximum expenditure of Rs.1674 crores for this purpose. However, based on the market price and availability of sugar, this may be reviewed by the Dept. of Food and Public Distribution any time for withdrawal / modification. The reimbursement under the scheme would be met on quarterly basis to sugar mills which would be directly credited into farmers' account on behalf of mills against cane price dues and subsequent balance, if any, would be credited to the mill's account. Creation of buffer stock of 30 LMT of sugar for one year from 1st July, 2018 to 30th June, 2019 was one of the various interventions which were made by the Government. Accordingly, the Scheme for creation and maintenance of buffer stock was notified on 15th June, 2019.
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