Mumbai: As the state assembly elections approach, the Maharashtra government has approved loan guarantees amounting to around ₹675 crore for five sugar mills, reports Hindustan Times.
“The state government has recommended approving a loan worth ₹674.84 crore to five sugar mills under the ‘Margin Money Assistance’ scheme, run by the National Cooperative Development Corporation (NCDC),” stated a recent order from the state cooperation department.
The order also highlighted that these factories cannot commence operations without assistance from the government or another institution. ‘There is adequate availability of the sugarcane operation area of the factory however there is a grave need to fill the working capital gap. Operationalization of this factor will greatly help the cane growers in its area of operation,,” the order further stated.
