Ethanol stocks have gained immense focus ever since the government put forward its ambitious ethanol blending programme. Here are the top stocks to watch out in 2023.
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Govt advances target of 20% ethanol-blending in petrol by 5 years to cut dependency on imports
India has preponed the target of achieving 20 per cent ethanol-blending with petrol by five years to 2025 as it looks to cut dependence on costly oil imports, Oil Minister Dharmendra Pradhan said on Wednesday. In 2014, less than 1 per cent ethanol was being blended with petrol against the target of 5 per cent. In the last sugar year, this ratio has reached 8.5 per cent and next year it is 10 per cent, he said at FIPI award function here.
Last year the government had set a target of reaching 10 per cent ethanol-blending by 2022 (10 per cent of ethanol mixed with 90 per cent of petrol) - and 20 per cent by 2030.