Centre hikes ethanol value to spice up farmers’ revenue

Tribune News Service

New Delhi, October 29

The government today raised the price of ethanol, which is blended with petrol by state-owned Oil Marketing Companies (OMCs), including Indian Oil Corp. Ltd, Hindustan Petroleum Corp. Ltd, and Bharat Petroleum Corp. Ltd.

A decision to this effect was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

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Briefing the media after the meeting, Information and Broadcasting Minister Prakash Javadekar said, “Prices have been raised from Rs 59.48 per litre to Rs 62.25 per litre for ethanol derived from sugar juice. Also, the price of ethanol derived from ‘C’ heavy and ‘B’ heavy molasses has been increased by Rs 1.94 and Rs 3.34 per litre to Rs 45.69 and Rs 57.61 per litre, respectively.”

“These revised prices are for the supply of ethanol to public sector OMCs for 2020-21 and is aimed at boosting farmers’ income. This comes in the backdrop of the government reaching out to financially weaker sections, migrant workers and farmers,” said the minister, maintaining that the GST and the transportation costs would also be borne by the OMCs.

The government also said that 100 per cent of the foodgrain and 20 per cent of the sugar should be packed in diversified jute bags. — TNS

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