Government has important decisions before budget, increased price of ethanol, National Critical Mineral Mission also approved

Prior to the General Budget (Union Bugdet 2025), the Union Cabinet has taken several major decisions on Wednesday. The government has approved the increase in the price of ethanol to be made from sugarcane and National Critical Mineral Mission.

Ethanol price hike

Giving information about the decisions of the cabinet, Union Minister Ashwini Vaishnav said that the government has decided to increase the price of ethanol by 3 percent. Now government companies will buy ethanol at the rate of Rs 57.97 per liter, which was earlier Rs 56.58 per liter.

Ethanol Blended Petrol – EBP Program

Ethanol Supply Year – ESY 2024-25 has been extended from 1 November 2024 to 31 October 2025 under the Ethanol Supply Year -ESY under the Ethanol Blended Petrol Program by the government.

Saving foreign currency over Rs 1,13,007 crore

In the last ten years, till 31 December 2024, the Ethanol Blending in Petrol by the Government Oil Marketing Companies (OMCs) has saved foreign currency of more than Rs 1,13,007 crore and almost 193 lakh metric tons of crude oil has been replaced.

National Critical Mineral Mission approved

Apart from this, the cabinet has approved the National Critical Mineral Mission – NCM Mission with a outlay of Rs 16,300 crore. Under this, investment of Rs 18,000 crore is being expected by government companies.

Ashwini Vaishnav said that the purpose of this mission is to reduce dependence on import of important minerals and ensure self -sufficiency.

Search and mining of minerals under mission

The National Critical Mission, approved by the cabinet, will include all stages of mineral value chain, including the discovery of minerals, mining, mining, benefits, processing and final Recovery from end products from products.

Mineral search fast

This mission will intensify the discovery of essential minerals within the country and in offshore regions. According to the official statement, it aims to create a fast-track regulatory approval for mining projects. Additionally, this mission will provide financial incentives for the discovery of essential minerals and promote mineral recovery from overburdons and tailing.