24,300 crore savings by government by blending ethanol in petrol

Blending ethanol with petrol has indeed resulted in significant foreign exchange savings for India. According to recent reports, the program saved over 24,300 crore rupees in foreign exchange during the 2022-23 supply year. This is a remarkable achievement, and it's worth understanding how it came about.

Ethanol petrol

Here are some key points to consider,

Aiming to reduce crude oil import costs and carbon emissions, the government introduced the 'E-20' blending system in April last year.

E-20 means that 20 percent ethanol is added to the gasoline. Currently selling more than 9,300 fuel units.

Ethanol is a renewable fuel produced from agricultural sources like sugarcane and corn. By blending it with petrol, India reduces its dependence on imported crude oil, which is a major drain on foreign exchange reserves.

The government has been actively promoting ethanol blending through various policies and incentives. The target is to achieve 20% ethanol blending by 2025 and 30% by 2030.

Blending ethanol also offers environmental benefits. It reduces greenhouse gas emissions compared to pure petrol, contributing to India's climate change goals.

The success of the ethanol blending program is a positive step towards India's energy security and environmental goals. It also benefits farmers by creating a new market for their produce.

Here are some additional details you might find interesting,

The program also led to expeditious payments of about 19,300 crore rupees to farmers, providing much-needed financial support to the agricultural sector.

It's estimated that the blending resulted in a net reduction of 108 lakh metric tonnes of carbon dioxide, contributing to cleaner air.

Overall, the ethanol blending program is a multi-faceted success story, showcasing the potential of renewable fuels in driving economic and environmental progress.

Comments

At one time, the tax rate in India was 97.50

Many feel that foreign countries tax the rich very heavily and India does not. But did you know that at one time India had to pay 97.50 percent of income tax? Indira Gandhi What is the historical tax rate in India Debates such as distribution of wealth and introduction of inheritance tax have arisen and are currently being discussed in a frenzy. But, in our country, 50 years ago, maximum tax was collected up to 97.50 percent. There was such a period in India. During Indira Gandhi's tenure as Prime Minister, income tax in India was as high as 97.50 percent. However, this collection came to an end shortly after. Indira Gandhi saw taxation as an important mechanism to balance income and wealth. Based on this, in February 1970, he presented the budget in Parliament and addressed it. Social welfare was the theme of the budget. Since the green revolution was taking place, various announcements related to the agriculture sector were included in the budget. A huge sum...

Why stock market investment tips don't work in india

It is said that proper research and analysis are necessary for direct investment in stocks. However, many investors seek tips that point to stocks that can be profitable. Stock market why stock market investment tips don't work properly Although they attract recommendations to buy or sell specific stocks, they can cause problems in practice. Especially now, with the influence of social media, stock recommendations are followed by many people. Let's look at the problems in investing in stocks based on tips. Stock Guidance: It is natural to be interested in knowing stocks that can win among thousands of stocks. But finding them is difficult. That is why many people believe that investment tips will answer this. These tips do not contain investment-related guidance. New Trends: Not only stocks, but also mutual fund schemes are given tips. These are like the technology sector is the future or the pharmaceutical sector is now safe. The basics of this strategy and th...

India will be the global gold price setting body

New Delhi: India is planning to become a gold price setter, the Chamber of Commerce of India said at a gold and gemstone conference. The industry said at the event, Gold price India will emerge as a country that sets gold prices India is a global gold price s etter. Instead, it should become a gold price setter. Domestic mining will help in this. Domestic production will meet 20 percent of the country's gold demand in the next decade. Due to insufficient domestic gold production and the lack of a gold banking system, we have to depend on the London market price. In the next 2-3 years, India will emerge as the world's jewelry hub. Gold and jewelry purchases should be honest and transparent. The Indian Standards Institution plays a key role in determining the quality of gold. Similarly, the OECD and London Bullion Market Association standards can also be adopted or equivalent standards can be developed. Similarly, the ban on the export of 24-carat gold from India h...

22k jewelers

Search This Blog