Friday, January 22, 2021
Home Business News Government extends interest subvention for ethanol to grain-based units - Times of...

Government extends interest subvention for ethanol to grain-based units – Times of India


NEW DELHI: The government on Wednesday approved interest subvention of Rs 4,573 crore to raise ethanol manufacturing capacity to 1,000 crore litres by including grain-based distilleries in addition to just molasses-based units.
The government aims to use the scheme to expand the feedstock for making ethanol to non-sugarcane farm produce such as cereals such as rice, wheat, barley, maize, corn and sorghum as well as sugar beet.
Oil minister Dharmendra Pradhan said the scheme would boost production and distillation capacity to 1,000 crore litres and help in meeting the goal of 20% ethanol blending with petrol by 2030.
The expenditure on the scheme would be ₹8,470 crore, of which Rs 4,573 crore was approved by the Cabinet. The decision will fuel investment of Rs 40,120 crore in setting up new ethanol distilleries, boost local industries, generate jobs, give a fillip to the economy and encourage ‘urja-kheti (energy farming)’, which will transform our ‘annadatas (food providers)’ into ‘urjadatas (energy providers), a government statement said.
The government would bear interest subvention for five years including one year moratorium against the loan availed by project proponents from banks at 6% per annum or 50% of the rate of interest charged by banks, whichever is lower, the statement said.



Source link

Avatar
Sahilhttp://digitalguruji.org
In this blog our main motive is to provide you all kind of latest information about technology, politics, sports, and health. If you want to read this information then you should have to visit our website. This information will help you to increase your knowledge.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Coronavirus: New South African COVID variant may evade antibodies, increase chances of reinfection, as per scientists – Times of India

While the novel coronavirus had already wreaked havoc all across the globe, the new variants discovered in parts of the United Kingdom and...

Honor’s first ‘Huawei-less’ phone launched in China – Times of India

NEW DELHI: Honor has launched its latest flagship smartphone V40 5G in China. It is the first smartphone of the company to...

Here’s how Edufront is improving learning outcome for school students – Times of India

Satish Jha, Chairman, Edufront The COVID-19 lockdown opened new realms of online learning for all students, especially the young...

PM Modi cherishes India’s dual victory over Covid-19 and Australia; praise young India – Times of India

GUWAHATI: Prime Minister Narendra Modi on Friday said that India's resolute battle to emerge victorious out of the pandemic and in the cricket...

Recent Comments