Cabinet approves increase in ethanol prices for 2020-21
The cabinet also gave its nod for restoration and continuation of the Member of Parliament Local Area Development Scheme for the remaining part of 2021-22 till 2025-26.
- Nov 10, 2021,
- Updated Nov 10, 2021 5:51 PM IST
The Union Cabinet, in its meeting held on Wednesday, decided to increase the prices of ethanol derived from different sugarcane-based raw materials for the year 2020-21. "Cabinet today approved a mechanism for procurement of ethanol by public sector oil marketing companies under Ethanol Blended Petrol program," Union Minister Anurag Thakur said.
The price of ethanol from C heavy molasses has been hiked from Rs 45.69 to Rs 46.66 per litre, while that for B heavy molasses has been hiked from Rs 57.61 to Rs 59.08 per litre. The price of ethanol from sugarcane juice, sugar or sugar syrup has been increased from Rs 62.65 to Rs 63.45 per litre.
The GST and transportation charges will be payable under the programme, and oil PSEs (public sector enterprises) will have the freedom to decide on the pricing of 2G ethanol.
The Ethanol Blended Petrol programme will benefit the environment and offer price stability and remunerative prices for ethanol suppliers. It will facilitate setting up of advanced biofuel refineries in the country and reduce pending arrears of cane farmers. The programme will also reduce dependency on crude oil imports and help in saving in foreign exchange, the government said in a release.
In other decisions, the cabinet also gave its nod to committed price support of Rs 17,408.85 crore to the Cotton Corporation of India. The CCEA also approved incurring expenditure for reimbursing losses under MSP ops for cotton during the cotton season (Oct to Sept) 2014-15 to 2020-21.
The cabinet also gave its nod to restoration and continuation of the Member of Parliament Local Area Development Scheme (MPLADS) for the remaining part of 2021-22 till 2025-26.
Also read: Cabinet approves reservation norms for mandatory use of jute in packaging
The Union Cabinet, in its meeting held on Wednesday, decided to increase the prices of ethanol derived from different sugarcane-based raw materials for the year 2020-21. "Cabinet today approved a mechanism for procurement of ethanol by public sector oil marketing companies under Ethanol Blended Petrol program," Union Minister Anurag Thakur said.
The price of ethanol from C heavy molasses has been hiked from Rs 45.69 to Rs 46.66 per litre, while that for B heavy molasses has been hiked from Rs 57.61 to Rs 59.08 per litre. The price of ethanol from sugarcane juice, sugar or sugar syrup has been increased from Rs 62.65 to Rs 63.45 per litre.
The GST and transportation charges will be payable under the programme, and oil PSEs (public sector enterprises) will have the freedom to decide on the pricing of 2G ethanol.
The Ethanol Blended Petrol programme will benefit the environment and offer price stability and remunerative prices for ethanol suppliers. It will facilitate setting up of advanced biofuel refineries in the country and reduce pending arrears of cane farmers. The programme will also reduce dependency on crude oil imports and help in saving in foreign exchange, the government said in a release.
In other decisions, the cabinet also gave its nod to committed price support of Rs 17,408.85 crore to the Cotton Corporation of India. The CCEA also approved incurring expenditure for reimbursing losses under MSP ops for cotton during the cotton season (Oct to Sept) 2014-15 to 2020-21.
The cabinet also gave its nod to restoration and continuation of the Member of Parliament Local Area Development Scheme (MPLADS) for the remaining part of 2021-22 till 2025-26.
Also read: Cabinet approves reservation norms for mandatory use of jute in packaging