Sakshi Batra discusses with Gaurav Choudhury , Policy Editor of Moneycontrol, the implications of this new policy on sugarcane farmers who have still not been paid arrears to the tune of Rs 13000 crore.
The cabinet on ministers has given its nod to hike the price of ethanol produced from sugarcane juice. The industry had been awaiting clarity regarding the use of ethanol as a fuel. The government has faced flak over rising prices of petrol and diesel.
The move is part of a bid to encourage sugar mills to divert production of sugar to ethanol. The government also aims to cut down crude oil import by raising the blending of ethanol in petrol by 10%.The sugar industry is expected to invest more in setting up ethanol production facilities after this decision. Sakshi Batra discusses with Gaurav Choudhury , Policy Editor of Moneycontrol, the implications of the government's alternative-fuel push on sugarcane farmers, who have still not been paid arrears to the tune of Rs 13,000 crore.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.