Ethanol blending yields 509 crore litre petrol saving, ₹24,300 crore forex benefit in

New Delhi: In a significant step towards energy self-sufficiency and agricultural support, Public Sector Oil Marketing Companies (OMCs) have saved approximately 509 crore litres of petrol, translating to over Rs 24,300 crore in foreign exchange, during the Ethanol Supply Year (ESY) 2022-23 under the Ethanol Blended Petrol (EBP) Programme, said Minister of state for Petroleum and Natural Gas Rameswar Teli.

In a written reply in Rajya Sabha, the minister said that the EBP Programme‘s successful ethanol blending initiative has not only reduced India’s petrol import reliance but also ensured prompt payment of around Rs 19,300 crore to the country’s farmers, thereby giving a substantial boost to the agriculture sector.

Teli further informed that the government has sanctioned assistance for 1,212 projects to augment ethanol production. These projects, including 590 molasses-based, 474 grain-based, and 148 dual-feed based, fall under an interest subvention scheme linked to the EBP Programme.

This strategy aligns with the government’s objectives of cutting down on import dependency, supporting local farmers, and pursuing environmental benefits.

  • Published On Dec 12, 2023 at 08:24 AM IST

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This article was originally published by a energy.economictimes.indiatimes.com . Read the Original article here. .