Government recieves over 150 proposals for ethanol capacity additions

Government of India has received over 150 proposals to build ethanol capacity in India. Earlier the government has sought proposals to provide soft loans to producers for expanding the ethanol capacity. It may be noted that, banks have some reservations for sugar sector because of its cyclical nature. Now, the proposal will be placed before the Department of Financial Services in the Finance Ministry, which will be further vetted and sent to a concerned nodal bank. The bank will see the project report, balance sheet of the mill and take a call.