Arun Jaitley says funds allocated to boost ethanol production in sugar mills

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First Published 7, Mar 2019, 4:42 PM IST
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Arun Jaitley funds allocated boost ethanol production sugar mills last cabinet briefing
Highlights

In its last Cabinet briefing ahead of the Lok Sabha, Union Minister Arun Jatiley along with the Cabinet Committee on Economic Affairs (CCEA) listed out various approvals. The Delhi Metro's Phase IV project is one among the many things that was given the nod.

New Delhi: In the last Cabinet briefing, Finance Minister Arun Jaitley said that they have approved incentives worth Rs 3,300 crore  in order to help sugar mills boost ethanol production capacity.

The sugar mills that have been saddled with losses will benefit from the diversion of sugarcane for ethanol production that will help cut sugar output.

Union Finance Minister Arun Jaitley said the Cabinet Committee on Economic Affairs (CCEA) has cleared the proposal for promulgation of “The Central Educational Institutions (Reservation in Teachers’ Cadre) Ordinance, 2019. It also cleared three corridors of Delhi Metro Phase IV."

The Union minister said the CCEA also approved Rs 2,790 crore interest subvention for extending loans by banks to sugar mills. This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018.

Jaitley also informed that the CCEA has also given approval for the investment sanction for acquisition of M/s LancoTeesta Hydro Power Ltd (LTHPL) and execution of balance work of the Teesta Stage-Vl HE Project by NHPC Ltd in Sikkim. “CCEA gives approval for investment approval for 2×660 MW Buxar Thermal Power Project (Buxar TPP) in District Buxar of Bihar,” he added.

It also approved recommendations of the Group of Ministers (GoM) relating to issues of stressed Thermal Power Projects.

The committee has also approved the investment sanction for construction of Kiru Hydro Electric (HE) Project (624 MW) located on River Chenab in Kishtwar district of Jammu and Kashmir.

The committee also approved the investment approval for 2x660MW Khurja Super Thermal Power Plant (STPP) in Bulandshahar of Uttar Pradesh and Amelia Coal Mine in Singraulli, Madhya Pradesh.

The Union Cabinet decided to approve the construction of a 3rd railway line between Narayangarh in West Bengal & Bhadrak in Odisha which is a distance of 155 kms length.

Along with approving Delhi Metro’s phase IV project, the Union Cabinet also approved the proposal of Airports Authority of India for surrendering encroached AAI’s land measuring 106.76 acres at Bhopal Airport.

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