Prakash Javadekar Minister of Environment, Forest & Climate Change & Heavy Industries & Public Enterprises said that the government hiked the prices of ethanol used for doping in petrol by 5-8%, after a cabinet meeting.
#Cabinet Briefing https://t.co/spRlE2MsrW
— Prakash Javadekar (@PrakashJavdekar) October 29, 2020
The Union Cabinet met under the leadership of Prime Minister Narendra Modi on Thursday. At the same time, Union Minister Prakash Javadekar gave information about the decisions of the cabinet in a press conference. Javadekar said that the Union Cabinet has approved the mechanism for the purchase of ethanol by public sector oil marketing companies under the ethanol-blended petrol program.
The cabinet took three important decisions under the leadership of PM Modi. Javadekar said the new ethanol prices will be Rs. 62.65 per liter thus it will benefit Sugarcane farmers and mills. While the prices of B-heavy and C-heavy ethanol will be Rs. 57.61 and Rs. 45.69 respectively. Javadekar said that there used to be only one rate for all types of ethanol but they differentiated the price on the basis of the production process.
Javadekar said that ethanol production has increased by the decision from 38 crore liters to 195 crore liters. PM Modi has already said that the government is working towards doubling the income of farmers, the new farmer acts can be seen as a steps towards it and now this increment in the pricing of agriculture produced ethanol, can be considered as another step towards the same goal.
