Government Increases Ethanol Price By Upto Rs 3.34/Litre
The government has increased the sugarcane-extracted ethanol price by upto Rs 3.34 per litre, effective from December 2020 as oil-marketing companies are eyeing to procure 465 crore litres of eco-friendly ethanol for 2020-21. The price hike will help sugarcane-farmers sell produce more efficiently. India, which imports 85% of its oil requirements, dopes 10% ethanol to ease import dependency. Economic Affairs Committee also said OMCs will bear the GST and transportation costs.