The Cabinet Committee on Economic Affairs Thursday approved Rs 2,790 crore interest subvention for extending loans by banks to sugar mills, Finance Minister Arun Jaitley said.
This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018.
The interest subvention is for extending loans of Rs 12,900 crore by banks to sugar mills under the scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity, he said.
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