Balrampur Chini is hopeful of sugar incentive schemes being introduced by the newly elected Samajwadi Party government which will come to power in Uttar Pradesh.
"If a sugar incentive policy was put in place by the Samajwadi government, one should definitely see a revival of that. All of us had invested based on the policy. So, one is hopeful of that cash coming in," Vivek Saraogi, managing director of Balrampur Chini told CNBC-TV18. The sugar producer remains hopeful of the government relaxing norms for land acquisition, tax waivers, re-imbursements schemes and speedy de-controlling of the commodity. UP is the country's top cane producer and second largest sugar producer and hence after the new government takes over, the company expects large capacities to come up provided the government is more favourable to the industry then the rival Bahujan Samaj Party. Below is the edited transcript of the interview. Also watch the accompanying video. Q: Come in on that - are you expecting a much more favourable regime in UP for sugar companies as it was the last time - Samajwadi Party was in power? A: I would definitely agree with the fact that if a sugar incentive policy was put in place by the Samajwadi government, one should definitely see a revival of that. All of us had invested based on the policy. So, one is hopeful of that cash coming in. Q: As far as the SAP goes, do you expect any significant departure from what the BSPs trend or way of working has been? A: With regards SAP, it is almost like this year November, so you are six months away for sure. The theory with SP to my mind is that they feel the way to growth and development - industrialization is a very important part, which one did not see with BSP. That was not their flavour. They donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
