business

Sugar: A bitter reality; no respite for mill owners

India‘s sugar crisis is at its peak with almost Rs 21,000 crore remaining unpaid towards farmers. The government has refused to move to the Rangarajan formula of linking sugarcane prices to sugar. The industry has once again threatened to close sugar mills and the banks have refused to lend further to this debt ridden sector.

first published: May 19, 2015 05:15 pm