The group will explore an "alternate" option to raise revenue
In an interview to CNBC-TV18 Abinash Verma, DG, ISMA said the news is negative for the industry and that ISMA has requested the government to continue with both cess and SDF. He added it has also requested the government to revise the cess to a lower rate rather than scrapping it completely.
Presidential assent to the bill, which will help the government meet its expenditure on interventions to ensure payment of dues to the sugarcane farmers, was granted on January 8, official sources said today.