The Government on Wednesday hiked the price of ethanol, used for blending in petrol, as it looked to raise the doping quantity to cut India’s reliance on imported oil.
The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, raised the price of ethanol from all three varieties, Oil Minister Hardeep Singh Puri told reporters here.
The CCEA also approved a subsidy of `51,875 crore for phosphatic and potassic (P&K) fertilisers for the second half of 2022-23 as part of efforts to provide affordable soil nutrients to farmers.
The price of ethanol extracted from sugarcane juice was increased to `65.61 per litre, from the current `63.45 per litre for the supply year beginning December 2022.
