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Lucknow: Prime Minister Narendra Modi will be on a two-day tour of Gorakhpur to attend BJP’s farmer convention. The event will be inaugurated by party Chief Amit Shah on February 23. Modi is likely to inaugurate Pipraich sugar mill during his visit on February 24.
Uttar Pradesh Chief Minister Yogi Adityanath reviewed progress in construction of Pipraich sugar mill in district Gorakhpur. CM said once functional this mill will provide direct employment to 500 people and indirect employment to 5000 people of that area. “Over 40,000 cane farmers will stand benefited once this sugar mill starts operation,” the Chief Minister said.
Yogi said after the Inauguration, trail run of the mill would start.
The sugar industry in India is suffering from financial distress due to the surplus stock of sugar. Recently, the government hiked minimum selling price (MSP) of sugar from Rs 29/kg to Rs 31/kg, which experts believe will help to low down the burden of the sugar sector.
According to reports, the government’s move to increase the MSP will augur well for the mills and is expected to increase their operating profit margins by 6 per cent.
Industry body ISMA had recently said cane arrears stood at around Rs 20,000 crore at the end of January.
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