Sugar decontrol to up subsidy bill by Rs 2,500 crore: Chidambaram

The government's subsidy bill will shoot up by Rs 2500 crore per year on account of decontrol of sugar, Finance Minister P Chidambaram said on Saturday. The Cabinet decided on Thursday to decontrol the Rs 80,000-crore sugar industry. While the move does not affect open market prices, the government will pay the difference between ex-mill price of Rs. 32 and the public distribution system (PDS) price of sugar. The finance mini...