In a statement, Indian Sugar Mills Association (ISMA) said sugar production in 2022-23 is estimated at around 340 lakh tonnes after the diversion of 45 lakh tonnes of sweetener towards ethanol manufacturing.
The government has budgeted a fiscal deficit of Rs 16.61 lakh crore or 6.4 percent of the GDP in the current financial year ending March 2023. The deficit is funded by market borrowing.