SUGAR POLICY IN U.P. EXTENDED

New Delhi, 26 December 2006

NEW DELHI, December 27 (INFA): Encouraged by massive investment in the sugar industry, the U.P. Government has extended its sugar promotion policy by one year, till March 2008.  It was to end next March. The extension will now make it possible for the investors to avail of the tax benefits under the new policy.

As many as eight new sugar wills are proposed to be set up in the State during the next financial year (2007-08), according to in industry sources.

The sugar policy provides tax benefits to the new sugar refineries, investing between Rs.350 crore and Rs.500 crore, for five years and ten years, respectively.  Tax benefits are subject to the condition that the unit gives direct employment to 1,000 persons and makes payment to sugarcane growers in time.

The tax benefits include exemption from the trade on molasses and Central tax and also exemption from the administrative fee imposed by the State Government.

The policy also provides for exemption from the stamp duty on the registration of land for the sugar unit and also capital subsidy to the tune of 10 per cent of the total investment in the new sugar unit.

It seeks to encourage the establishment of new sugar mills, as well as generate capacity expansion in sugar mills and allied industries such as the production of ethanol and potable alcohol from molasses and establishment of co-generation units from bagasses.

Since the announcement of the policy in August 2004, so far over Rs.5,000 crore has been invested in new units and capacity expansion.  Besides adding fresh crushing capacity, the sugar policy has also added to the co-generation of power in sugar mills and addition in total installed capacity of ethanol.

The new policy has so far added power generation capacity from the co-generation to the tune of 732.86 MW.  The Power Purchase Agreements (PPA) between the sugar mills and the U.P. Power Corporation have been signed and endorsed by the power regulator, the U.P. State Electricity Regulatory Commission.

TELUGU VARSITY CENTRE IN ISRAEL

HYDERABAD, December 27 (INFA): The Potti Sriramulu Telugu University of Hyderabad will soon open its first centre abroad at the Hebrew University in Israel.

A detailed proposal on running Telugu classes at the University has been approved by the Executive Council of the University.

Meanwhile, Osmania University, a grandma institution in Hyderabad will soon offer one-year diploma course in healthcare under the University-industry partnership where it will collaborate with hospitals.

The course will cover areas of hospital billing, physician assistant, health insurance and informatics. ---INFA