Vikrant Shekhawat : Jan 29, 2025, 06:20 PM
Modi 3.0 Government: The Union Cabinet has approved two important decisions for farmers and the mineral sector before the general budget. In a meeting chaired by Prime Minister Narendra Modi on Wednesday, the National Critical Minerals Mission (NCMM) of Rs 16,300 crore and revised purchase prices of ethanol were approved. These decisions will boost the agriculture and energy sectors, as well as increase the self-reliance of the country.Farmers benefit from revision of ethanol pricesThe Cabinet Committee on Economic Affairs (CCEA) has approved revised prices in the purchase of ethanol, which will be applicable from 1 November 2024 to 31 October 2025.Under this decision of the government, the price of ethanol produced from C-Heavy Molasses (CHM) has been increased from Rs 56.58 per liter to Rs 57.97 per liter. The prices of ethanol produced from B-Heavy Molasses (BHM) and sugarcane juice have been kept stable at Rs 60.73 and Rs 65.61 per liter respectively.Union Minister Ashwini Vaishnav said that this move under the Ethanol Blended Petrol Program will reduce the country's dependence on crude oil, provide additional income opportunity to farmers and save foreign exchange.Target of 20% ethanol blending by 2030The government has increased the target of 20% ethanol blending in petrol from 2025-26 to 2030. Currently, the government is working on a plan to achieve 18% blending during the current supply year 2024-25.Promoting self-reliance through National Mineral MissionApart from this, the Union Cabinet also approved the National Critical Minerals Mission (NCMM) of Rs 16,300 crore. This mission will promote exploration, mining, beneficiation and processing of critical minerals, thereby ensuring mineral self-sufficiency of the country.Information and Broadcasting Minister Ashwini Vaishnav said that under this mission, financial incentives will be given for mineral exploration, mining and processing. Apart from this, it will also support Indian public and private sector companies in acquiring foreign mineral assets.Both these decisions of the government will give new impetus to farmers, energy sector and mineral industry. This step is another important effort towards self-reliant India.