Question

Discuss the procedure of sanction and disbursement of crop loan.

Answer 1

Sugar Development Fund Act provides for financing of activities for development of sugar industry and for matters connected therewith or incidental thereto. The Sugar Cess Act provides for imposition of a cess on sugar for the purposes of the Sugar Development Fund Act, 1982.

As on date the sugar cess Act provides that an excise duty not exceeding Rupees twenty-five per quintal of sugar shall be levied and collected as cess for the purposes of the Sugar Development Fund Act. At present the cess levied is at a rate of Rs.24 per quintal of sugar produced by any sugar factory in India.

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