Sugar Industry Current Affairs

PM Narendra Modi inaugurates International Conference on sugarcane value chain

Prime Minister Narendra Modi inaugurated the International Conference and Exhibition on Sugarcane Value Chain – Vision 2025 Sugar in Pune, Maharashtra.

The 3 days conference has been organised by Vasantdada Sugar Institute (VSI) at Manjari near Pune. Around 1,500 delegates are expected to participate in this conference from across the globe.

Key Facts

  • In this conference, eminent international and national speakers will deliver lectures on significantly different important aspects of sugarcane value chain.
  • Besides, there will be an exhibition showcasing various technological developments in sugar industry.
  • It will also have live demonstrations of sugarcane crop showing various advance technologies and practices in cultivation.

About Vasantdada Sugar Institute (VSI)

VSI is an autonomous body established in 1975 by sugarcane growers of co-operative sugar mills in Maharashtra with support of Central and State government. Former Chief Minister of Maharashtra Vasantdada Patil was founder of the institute. Former Union Minister Sharad Pawar is the present President of VSI.

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President gives assent to The Sugar Cess (Amendment) Bill, 2015

President Pranab Mukherjee has given assent to the Sugar Cess (Amendment) Bill, 2015 to raise the ceiling of a cess as an excise duty on the production of sugar.

The bill was first passed by Lok Sabha after it was declared a money bill. President gave his assent as per provisions of Article 111 of Constitution after the bill was not returned by the Rajya Sabha to the Lok Sabha within 14 days of its consideration as per constitutional provisions.

Key facts

  • The amendment Bill seeks to amend the The Sugar Cess Act, 1982 which provides legal provision for the imposition of a cess as an excise duty on the production of sugar.
  • The Bill proposes to increase this ceiling of sugar to Rs 200 per quintal from existing Rs 25 per quintal specified in the principal Act.
  • The principal Act empowers central government to fix the rate of sugar cess from time to time.

Implications of hike in sugar cess

It would lead to increase in the accruals to the Sugar Development Fund (SDF) which in turn would facilitate rehabilitation and modernisation of sugar mills and thereby helping cane growers. In present scenario, it will help in revival of stagnant sugar economy by helping cash-starved mills and sugarcane growers.

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