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From industrial projects to interest subvention for ethanol distilleries: Here are key Cabinet announcements

The government has approved an interest subvention scheme of Rs 4,573 crore for production of grain-based ethanol in the country. Apart from this, it also approved three industrial projects worth Rs 7,725 crore under the National Industrial Corridor Programme.

By: Express Web Desk | New Delhi | Updated: December 30, 2020 6:19:25 pm
Union Minister Prakash Javadekar announcing the key decisions taken by the Cabinet on Wednesday, December 30, 2020. (Screengrab: Youtube/PIB India)

The Cabinet headed by Prime Minister Narendra Modi on Wednesday approved three industrial projects worth Rs 7,725 crore under the National Industrial Corridor Programme. These include a multi-modal logistics and transport hubs at Uttar Pradesh’s Greater Noida, and industrial corridor nodes at Andhra Pradesh’s Krishnapatnam and Karnataka’s Tumakuru region, Information and Broadcasting (I&B) Minister Prakash Javadekar said.

Krishnapatnam Industrial Area in Andhra Pradesh and Tumakuru Industrial Area in Karnataka will be in Chennai Bengaluru Industrial Corridor (CBIC), the minister said adding that the total estimated cost of these projects will be Rs 7,725 crore and the estimated employment generation is more than 2.8 lakh people.

These projects will position India as a strong player in global value chains with developed land parcels in cities for immediate allotment for attracting investments, he added.

Cabinet approves opening missions in Estonia, Paraguay, Dominican Republic

Apart from the decision on industrial projects, the Cabinet also approved the opening of Indian missions in Estonia, Paraguay and Dominican Republic, to help promote trade and cultural relations with these countries, Javadekar informed.

He said that Prime Minister Modi has always pitched for maintaining good relations with all countries and this move was a part of their efforts to strengthen ties with other nations.

Cabinet approves interest subvention for ethanol distilleries

The Cabinet also approved an interest subvention of Rs 4,573 crore for new distilleries producing ethanol, which can be used for doping in petrol, Oil Minister Dharmendra Pradhan said.

He added that a modified scheme to enhance ethanol distillation capacity has been approved and this will help in producing first-generation ethanol from feedstocks such as cereals (rice, wheat, barley, corn and sorghum), sugarcane and sugar beet etc.

India will need about 1,000 crore litre of ethanol for doping in petrol by 2030 with a view to cut dependency on imports for meeting oil needs, he said adding that the nation currently has a capacity of 684 crore litres.

The government has procured 173 crore litre ethanol during December 2019 till November 2020 and this year we have been assured of 325 crore litres in this sugar year, Pradhan said.

Government has fixed target of 10 per cent blending of fuel-grade ethanol with petrol by 2022 and 20 per cent blending by 2030.

Cabinet approves export of Akash missile system

The Cabinet also approved the export of indigenously-developed surface-to-air Akash missile system and set up a panel to ensure faster approvals for acquisition proposals by various countries.

The Akash missile systems have over 96 per cent indigenous components and the weapon can hit targets at a range of 25 km.

Defence Minister Rajnath Singh said the export version of Akash missiles would be different from the system currently deployed with Indian armed forces.

–with inputs from PTI

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