To improve the earnings of farmers and reduce dependency on the import of crude oil, the government has planned to blend ethanol with petrol. This will now be produced from farm products and will benefit the farmers across states by utilising their sugarcane and food grains for making ethanol.
A meeting of the Approval Committee, under the chairmanship of Secretary (Food), was held to consider proposals received under modified interest scheme for extending financial assistance to project proponents for producing 1G Ethanol from foodgrains, molasses etc.
Total 418 applications were recommended by the Approval Committee with the potential of annual capacity creation of 1670 crore litre. ₹40,000 crore of investment is supposed to come in these projects, creating numerous job opportunities directly & indirectly in these projects.
Ethanol produced from these projects will be blended into petrol and shall reduce the dependency on import of crude oil. This will benefit the farmers across states by utilising their sugarcane and food grains for making ethanol.