Cabinet Committee on Economic Affairs(CCEA) has approved sugar export subsidy for 2019-20.
This move is aimed at countering the surplus sugar stock’s impact on prices.The lower sugar prices would make it difficult for mills to pay farmers dues.
The subsidy will be provided for expenses on marketing costs including handling, upgrading , international and internal transport costs and freight charges.
Cabinet Committee on Economic Affairs(CCEA) is one of the standing committees of cabinet constituted by government of india.The committee is headed by the Prime Minister.
The major function of the CCEA is to review economic trends on a continuous basis as also the problems and prospects with a view to evolve a consistent and integrated economic policy framework for the country.
Further,matters regarding fixation of prices of agricultural products as well as reviewing progress of activities related to rural development including those concerning small and marginal farmers are in CCEA’s competence.