Cabinet Committee on Economic Affairs okays higher prices for ethanol

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) has approved higher prices for ethanol produced from various sources for blending with petrol, a move which would give a big boost to the sugar industry and help it clear pending payments of Rs 13,000 crore to cane farmers. The new prices, which are up to 8% more than current rates, will be applicable from December 1 until end of November next year. Higher ethanol rates will help the sugar industry, which has struggled because of surplus production for years.

To help millions of farmers and workers involved in jute, a major crop in West Bengal and neighbouring states, the cabinet approved mandatory use of diversified jute bags for all food grain and 20% of sugar to help workers and farmers in the sector. The CCEA also approved two phases of the Dam Rehabilitation and Improvement Project with assistance of the World Bank and AIIB.