India, May 26 -- The Gujarat government has granted official approval to sugarcane prices paid by cooperative sugar societies to farmers between 2007-08 and 2014-15, a move expected to remove an estimated Rs.1,500 crore financial burden on sugar cooperatives and benefit more than two lakh sugarcane farmers across the state.

Announcing the decision on Monday, Agriculture and Cooperation Minister Jitubhai Vaghani said the move was taken under the leadership of Chief Minister Bhupendra Patel to safeguard the interests of the cooperative sector and sugarcane growers.

Vaghani said cooperative sugar societies in Gujarat had historically paid farmers higher prices than the Fair and Remunerative Price (FRP) fixed by the Centre by sharing additi...