Uttar Pradesh asks sugar mills to pay 15% interest on cane dues.

Uttar Pradesh govt has asked sugar mills in the state to pay interest at the rate of 15% per annum on cane arrears for 2016-17 (Oct-Sep). The mills who default on the timely payment of sugarcane dues to farmers will have to pay 15% interest. If sugar mills fail to do so, the govt will issue recovery certificates against them. Sugar mills have to make payments to farmers within 14 days of cane purchases, failing which the amount is counted as arrears.