Thu, Jun 29, 2017 | updated 09:35 PM IST

CCEA approves revision of ethanol price

Updated: Oct 13, 2016 13:11 IST      
CCEA approves revision of ethanol price

New Delhi [India], Oct. 13 (ANI): The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Thursday gave approval to the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme.

For the next sugar season during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre. Additionally, charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.

If the need arises to increase/reduce the retail selling price of Petrol by Public Sector OMCs, then such increase/reduction would proportionately factor in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year.

The prices of ethanol will be reviewed and suitably revised by the government at any time during the ethanol supply period that is from 1st December, 2016 to 30th November, 2017 depending upon the prevailing economic situation and other relevant factors.

The revision in ethanol prices will facilitate the continued policy of the Government in providing price stability and remunerative prices for ethanol suppliers.

Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.

However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.

In order to augment the supply of ethanol, a need was felt to put in place a new mechanism for pricing of ethanol. Accordingly, the Government on 10th December, 2014 decided that the delivered price of ethanol at OMC depots would be fixed in the range of Rs. 48.50 per litre to 49.50 per litre including Central/State Government taxes and transportation charges.

The decision has helped in significantly improving the supply of ethanol. Ethanol supplies increased to 67.4 crore litres in 2014-15 and the projected supplies for ethanol supply year 2015-16 are around 120 crore litres. The objective to fix the delivered price of ethanol has been achieved to a large extent. In view of firming of sugar prices, falling crude prices and consequent under-recoveries of OMCs on this account, a need to re-examine the pricing of ethanol under EBP Programme has been felt. (ANI)

GST is Indian economy's tryst with destiny: Naidu

Updated: Jun 29, 2017 21:24 IST     

New Delhi [India], June 29 (ANI): Union Information and Broadcasting Minister Venkaiah Naidu on Thursday criticised many Opposition parties' decision to skip the rollout of Goods and Service Tax (GST) on June 30 midnight at Parliament House and termed the new tax regime as Indian economy's tryst with destiny.

Full Story >>

13 Amarnath yatris injured in road accident

Updated: Jun 29, 2017 21:23 IST     

Kathua (Jammu and Kashmir) [India] June 29,(ANI) : Fourteen Amarnath pilgrims were injured on Thursday when a bus carrying them collided with a truck.

Full Story >>

Army medicos bring cheers into the life of little Bodo girl

Updated: Jun 29, 2017 21:08 IST     

Guwahati (West Bengal) [India] June 29, (ANI): The Army hospital in Assam's Hattigor has given a new life to a five-year-old Bodo girl suffering from Encephalitis.

Full Story >>

RJD too will skip 'midnight' GST rollout

Updated: Jun 29, 2017 21:08 IST     

Patna (Bihar) [India], June 29 (ANI): The Rashtiya Janata Dal (RJD) on Thursday announced to boycott special programme on Goods and Service Tax (GST) in Parliament's Central Hall on midnight of June 30.

Full Story >>

CPI (M) to raise Air India disinvestment issue in Parliament

Updated: Jun 29, 2017 20:56 IST     

New Delhi [India], June 29 (ANI): Communist Party of India (Marxist) general secretary Sitaram Yechury on Thursday said the party would raise the issue of Air India's privatisation in the upcoming session the Parliament.

Full Story >>

15 SIMI terrorists sentenced to three-year imprisonment

Updated: Jun 29, 2017 20:35 IST     

Bhopal (Madhya Pradesh) [India], June 29 (ANI): Around 15 terrorists affiliated to Students' Islamic Movement of India (SIMI) were sentenced to three years of jail and a fine of Rs. 1000 was imposed on each for raising anti-India slogans within the court premises in Bhopal.

Full Story >>

PM asks start-ups to help transform Divyang's lives

Updated: Jun 29, 2017 20:16 IST     

Rajkot (Gujarat) [India], June 29 (ANI): Reiterating the government's commitment to Sabka Saath, Sabka Vikaas', Prime Minister Narendra Modi on Thursday called for more attention on Divyang people and asked the start-ups to look at ways through which innovation and technology can transform lives of the disabled.

Full Story >>

ED issues show cause notice to Syed Ali Shah Geelani

Updated: Jun 29, 2017 20:00 IST     

New Delhi [India] June 29 (ANI): The Enforcement Directorate (ED) on Thursday issued show cause notice Hurriyat Leader Syed Ali Shah Geelani for possession of Foreign exchange to the tune of US$10,000 illegally.

Full Story >>

CBI announces Rs 10 lakh reward for info about Najeeb

Updated: Jun 29, 2017 19:15 IST     

New Delhi [India] June 29 (ANI): The Central Bureau of Investigation (CBI) on Thursday declared reward of Rs. 10 lakh for information about the whereabouts of missing Jawaharlal Nehru University student Najeeb Ahmed.

Full Story >>

Kapil Mishra again marshalled out of Delhi Assembly

Updated: Jun 29, 2017 18:43 IST     

New Delhi [India], June 29 (ANI): Former Delhi minister and Aam Aadmi Party (AAP) MLA Kapil Mishra on Thursday was marshalled out for allegedly creating a ruckus in the Delhi Assembly.

Full Story >>

Police thwart plan of Kashmiri boy to become militant

Updated: Jun 29, 2017 18:42 IST     

Srinagar (Jammu and Kashmir) [India] June 29 (ANI): Police on Thursday thwarted a young Kashmiri boy's plan to become a militant.

Full Story >>

New Delhi [India], June 29 (ANI): Senior Congress leader Ghulam Nabi Azad on Thursday alleged that Prime Minister Narendra Modi was seeking publicity by criticising the violence in the name of cow vigilantism.

Full Story >>

Congress boycotts 'midnight GST rollout', calls it 'tamasha'

Updated: Jun 29, 2017 18:08 IST     

New Delhi [India], June 29 (ANI): The Congress Party on Thursday announced to boycott the mid-night celebration in the Central Hall of Parliament on the occasion of Goods and Service Tax (GST) roll out and branded this as 'publicity' or 'tamasha' (drama) of the Narendra Modi government .

Full Story >>

New Delhi [India], June 29 (ANI): Bharatiya Janata Party (BJP) leader Subramanian Swamy on Thursday said Minister of State for Civil Aviation Jayant Sinha should not be allowed to take part in the decision making process of Air India airlines disinvestment process as he was previously employed in a Multi National Corporation and might favour them on the same.

Full Story >>

New Delhi [India], June 29 (ANI): Aviation expert Subhash Goel on Thursday said disinvestment of Air India at this time would be a suicide.

Full Story >>

Superstitious doctor slaps patient to treat 'ghost' !

Updated: Jun 29, 2017 17:21 IST     

Barmer (Rajasthan) [India], June 29 (ANI): In a shocking case of superstition, a woman was slapped by her doctor in Rajasthan's Barmer after she told him that a ghost had allegedly cut her braid.

Full Story >>

New Delhi [India], June 29 (ANI): The AIMIM on Thursday dubbed Prime Minister Narendra Modi's statement on cow vigilantes as a 'mere lip service', adding atrocities in the name of 'Gau Bhakti' will continue as long as `Gau Rakshaks` get support from the BJP and RSS.

Full Story >>

Mumbai Railway station renamed

Updated: Jun 29, 2017 16:57 IST     

Mumbai (Maharashtra) [India] June 29 (ANI): The name of Mumbai railway station on Thursday has been changed to Chhatrapati Shivaji Maharaj Terminus.

Full Story >>

Kovind meets Parkash Singh Badal, Haryana CM Khattar

Updated: Jun 29, 2017 16:47 IST     

Chandigarh (Punjab) [India], June 29 (ANI): The Nationalist Democratic Alliance (NDA) presidential candidate Ramnath Kovind on Thursday continued his campaigning and met Shiromani Akali Dal (SAD) leader Prakash Singh Badal and Haryana Chief Minister Manohar Lal Khattar.

Full Story >>

Elderly French woman raped in Varanasi

Updated: Jun 29, 2017 16:30 IST     

Varanasi (Uttar Pradesh) [India] June 29,(ANI) : An elderly French woman has been raped by her residence guard, said police on Thursday.

Full Story >>