The Indian state of Uttarakhand announced on August 1 the abolition of its 2% value added tax (VAT) on sugar in the state, according to Chief Minister Vijay Bahuguna.
He also asked officials to take steps to convert a loan of INR2.717 bln ($1=INR55.17) and an interest burden of INR2.272 bln given to state-run sugar mills to equity.
Src: agra-net