Cabinet approves price support to Cotton Corporation of India

New Delhi: The committed price support of over 17,408 crore rupees to the Cotton Corporation of India got Cabinet nod on Wednesday. 

Information and Broadcasting Minister Anurag Thakur said, the Cabinet Committee on Economic Affairs CCEA approved incurring expenditure for reimbursing losses under MSP operations for cotton during the cotton season October 2014-15 to September 2020-21.

The Minister said, it also approved reservation norms for Jute Packaging Materials for the Year 2021-22. Hundred per cent of foodgrains and 20 per cent of sugar to be packed in jute bags. He said, the move will bring relief to three lakh 70 thousand workers employed in jute mills and ancillary units. Mr Thakur said, it will support the livelihood of around four million farm families and help in protecting environment.

The Cabinet also approved mechanism for procurement of



ethanol by Public Sector Oil Marketing Companies under Ethanol Blended Petrol programme. Mr Thakur said, it has cleared higher ethanol price derived from different sugarcane based raw materials for sugar season 2020-21. 

He said, price of ethanol from C heavy molasses increased from 45 rupees 69 paise to 46 rupees 66 paise per litre. Price of ethanol from B heavy molasses increased from 57 rupees 61 paise to 59 rupees 8 paise per litre. Price of ethanol from sugarcane juice, sugar or sugar syrup increased from 62 rupees 65 paise to 63 rupees 45 paise per litre.

The decision will help in price stability and remunerative prices for ethanol suppliers, facilitating setting up of advanced biofuel refineries in the country, reducing the pending arrears of cane farmers, reducing dependency on crude oil imports and helping in savings in foreign exchange.