The rise is up to 2.75 a litre and is for the 2022-23 supply season, which will start in December.
However, the sugar industry is of the view that a higher price of ethanol derived from sugarcane juice and syrup would have rekindled more investor interest.
The cabinet in a separate decision also approved a subsidy of around 51,875 crore for phosphatic and potassic (P&K) fertilisers for the second half of 2022-23 as part of efforts to provide affordable soil nutrients to farmers.
In April, this year, it had approved a subsidy of ₹60,939.23 crore for P&K fertilisers for the first six months (kharif season) of this fiscal year.
This means for non-urea fertilisers alone, the subsidy has touched almost ₹1.13 trillion in FY23.
The urea subsidy is, according to conservative estimates, never less than ₹80,000 crore a year.
The FY23 Budget had provided for 1.05 trillion as total fertiliser subsidy.
Denne historien er fra November 03, 2022-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra November 03, 2022-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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KEEPING UP WITH BRAZIL
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