New Delhi. The central government on Wednesday approved an increase of 1.47 rupees per liter in the price of ethanol derived from sugar cane and mixed with gasoline. This price increase will be for the 2021-22 marketing season that begins in December. The government has set a target of 20 percent ethanol blending in gasoline by 2025. Combining a large amount of ethanol in gasoline will help India reduce its oil import bill and benefit oil producers. sugar cane and sugar mills.
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday raised the price of ethanol derived from sugarcane juice from Rs 62.65 per liter to Rs 63.45 per liter for the marketing campaign that starts in December 2021. The price of ethanol made from marine high-density molasses has increased from Rs 45.69 per liter to Rs 46.66 per liter. The new price of ethanol obtained from B-heavy molasses has increased to Rs 59.08 per liter from Rs 57.61 per liter previously.
Oil trading companies will buy ethanol at a price set by the government. The ethanol-in-gasoline blend has reached 8 percent in the 2020-21 marketing year (December-November) and is likely to reach 10 percent next year. India has set a target of 20 percent blending ethanol in gasoline by 2025.
In addition, the Cabinet has approved a price support commitment of Rs 17,408.85 million to the Cotton Commission of India. 60 lakh farmers are associated with the cotton sector, who will benefit from it. In accordance with the mandatory packaging criteria approved for the year 2021-22 (July to June) for the jute sector, a reserve of 100% for jute and 20% for sugar in food packaging has been approved.
Apart from this, the cabinet approved the restoration and continuation of MP’s Local Area Development Plan. Rs. 2 crore per MP in one installment for the remaining period of fiscal year 2021-22 and in two installments during fiscal year 2022-23 to 2025-26 5 crore will be given.
In order to honor the special place and contribution of tribes in the history and culture of India and inspire generations to preserve this cultural heritage and national pride, it has been decided to declare November 15, the anniversary of the birth. of Lord Birsa Munda, such as Tribal Pride Day. .has taken.