The Cabinet Committee on Economic Affairs is scheduled to meet on Wednesday, November 10 and several decisions are expected regarding the country’s economy. As per reports, Information and Broadcasting Minister Anurag Singh Thakur is going to be present in the meeting, apparently scheduled to be held in Delhi at 3 pm on Wednesday. Reports also suggest that like last year, the government is also going to increase the price of ethanol extracted from sugarcane for doping in petrol. The price of ethanol extracted from sugarcane has been increasing continuously for the past several months in the country.
According to sources who spoke to News18.com, the government may again give a green signal to increase the price of ethanol for ethanol blending. Sources told News18.com that it could go up by around Rs 1 to Rs 2.50 per litre. He also said that the new prices are likely to come into effect from December 2021.
Sources said on Wednesday that with this possible hike, the price of ethanol made from sugarcane juice will increase from Rs 62.65 to Rs 64 per litre. Generally, the government fixes the price of ethanol given to oil marketing companies for doping in petrol.
The above sources revealed that along with the price of ethanol, the government may increase the prices of B heavy molasses and C heavy molasses by Rs 1 to Rs 2.50.
India, which is 85 per cent dependent on imports to meet its oil needs, allows doping of up to 10 per cent ethanol in petrol to reduce oil imports and vehicular emissions and allows sugarcane farmers to sell their produce. It also provides a beneficial source of ,
Last year also, the government had increased the prices of ethanol extracted from sugarcane. In a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi in October last year, the government hiked the price of ethanol by Rs 3.34 per liter as it was “seen to give impetus to that programme” Which has benefited the farmers as well as helped in cutting down the oil import bill,” according to a PTI report.
With that hike the price of ethanol extracted from sugarcane juice increased from Rs 59.48 per liter to Rs 62.65 per liter for the supply year beginning December 2020. On the other hand, the price of ethanol from C-heavy molasses was raised from Rs. 43.75 per liter to Rs 45.69 per litre. The then Information and Broadcasting Minister Prakash Javadekar told reporters in a briefing that the price of ethanol from B-heavy has gone up from Rs 54.27 per liter to Rs 57.61 per litre.
The government is implementing the Ethanol Blended Petrol (EBP) programme, in which oil marketing companies sell up to 10 per cent of petrol blended with ethanol. The program has been expanded to all over India except the Union Territories of Andaman and Nicobar and Lakshadweep Islands with effect from 1st April, 2019 to promote the use of alternative and eco-friendly fuels.
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