Petroleum Minister Dharmendra Pradhan said that the Cabinet approved the increase in the procurement price of ethanol produced from 100 percent sugarcane juice to Rs 59.19 per litre from the current Rs 47.13 per litre and that produced from B-Molasses (partial sugarcane juice) molasses to Rs 52.43 per litre from the existing 47.49 per litre.
The ethanol produced from C-heavy molasses will be increased to Rs 53 a litre from the existing Rs 43.46 a litre, an increase of 25 percent.
Keeping eyes on the production of sugar cane in India, “This is a quantum jump. We want our sugar farmers to get relief and sugar industries to become stabilised. The production of ethanol will also increase.”
At the press conference, Union minister Piyush Goyal also announced to open four new National Institutes of Design (NIDs) — in Vijayawada, Assam, Bhopal, and Kurukshetra — and they will be recognized as Institutes of National Importance,” he said.
He further said that the Cabinet has decided to reduce the fuel dependency of trains. “We have taken a very important step to make the Indian Railways run on electric traction and reduce our dependency on the imported fuel,” he said.
Goyal claimed that India was the only country in the world to have attempted to electrify the entire railway network. “And I think, the amount of money that we will save is around Rs 13-14 thousand crores,” he said. “The electrification of the entire railways will help save foreign exchange, help reduce the pollution, and will make the Indian railways faster, safer.”