Cabinet To Give Extra Rs 3,300 Crore To Help Sugar Mills Boost Ethanol Capacity: Arun Jaitley

The cabinet approved incentives worth Rs 3,300 crore rupees ($471.21 million) to help sugar mills boost ethanol production capacity, Finance Minister Arun Jaitley said on Thursday.

The diversion of sugarcane for ethanol production will help cut sugar output, which in turn, will improve financial health of sugar mills that have been saddled with losses.