Sugar Development Fund
The Sugar Cess Act, 1982 provides for levy of cess, which currently is Rs. 24 per quintal with effect from 1st March, 2008 on production of Sugar for credit to the Consolidated Fund of India. The Sugar Development Fund Act, 1982 provides for transfer of an amount equivalent to the cess collected, reduced by the cost of collection to the Sugar Development Fund, to be used for development of sugar industry and for matters connected therewith or incidentals thereto by making loans, grants and other expenditure relating to development of Sugar Industry.
Thus, the amount collected as cess via the Sugar Cess Act, 1982 is transferred from the Consolidated Fund of India to Sugar Development Fund as per the Sugar Development Fund Act, 1982. Please note that that Sugar Development Fund is maintained as a part of Public Account of India.
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