June 6, 2018 / 8:10 AM / 2 months ago

Cabinet approves bailout package for sugar sector: government source

NEW DELHI (Reuters) - India’s cabinet approved a bailout package for the sugar sector, a government source said on Wednesday after a cabinet meeting chaired by Prime Minister Narendra Modi, to help struggling mills and cane growers.

FILE PHOTO: A trader speaks on his mobile phone as he waits for customers at a sugarcane wholesale market in Kolkata, India May 2, 2018. REUTERS/Rupak De Chowdhuri/File photo

Food Minister Ram Vilas Paswan on Tuesday said the government would announce support measures to cut a growing sugar surplus and prop up local prices, a move aimed at helping loss-making mills and millions of cane growers who make up a key voting bloc.

Reporting by Mayank Bhardwaj; Editing by Malini Menon

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