Feb. 28: The loan restructuring programme announced for the sugar industry will largely help the co-operative sugar mills, especially those in Maharashtra, feels the industry.

Accepting the Tuteja committee report on revitalisation of the sugar sector, the finance minister announced sops for sugar mills, including a moratorium on both interest and principal for two years.

The sector will gain from a financial package announced in the budget, but an increase in excise duty on molasses, a byproduct of sugar, will hit revenues, industry sources said in their reactions to the budget.

Experts say the move will help sugar co-operatives in Maharashtra which has been reeling under huge debts.