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New Delhi, April 5 (IANS) The Centre has determined to increase, as much as September 30, the timeline for disbursement of loans to sugar mills in respect of all schemes notified throughout 2018-2021 to facilitate challenge proponents to finish their initiatives & to avail advantages of curiosity subvention for ethanol manufacturing, an announcement stated on Tuesday.
With a view to extend manufacturing of ethanol and its provide underneath ‘ Blended with Petrol (EBP)’ programme, particularly within the surplus season and thereby to enhance the liquidity place of sugar mills enabling them to clear arrears of cane farmers, the Centre notified completely different curiosity subvention schemes for sugar mills and distilleries throughout 2018-2021.
“Authorities is extending monetary help within the type of curiosity subvention @ 6 per cent each year or 50 per cent of price of curiosity charged by banks, whichever is decrease, on the loans to be prolonged by banks for 5 years together with one-year moratorium,” a Shopper Affairs, Meals and Public Distribution Ministry assertion stated.
With the imaginative and prescient to spice up agricultural economic system, to cut back dependence on imported fossil gas, to avoid wasting international change on account of import invoice and to cut back the air air pollution, the federal government has fastened a goal of 10 per cent mixing of gas grade ethanol with petrol by 2022 and 20 per cent mixing by 2025.
“Underneath the schemes, the timeline for disbursement of mortgage for ethanol initiatives is as much as March/April, 2022. Nevertheless, because of unavoidable and unlucky conditions brought on by Covid-19, challenge proponents had been unable to stick to the time restrict for disbursement of mortgage from banks/monetary establishments and unable to finish their initiatives in a given timeframe. Due to this fact, there’s a want to increase the timeline for disbursement of loans underneath curiosity subvention schemes introduced earlier throughout 2018-2021,” the assertion stated.
–IANS
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