March 7, 2019 / 7:55 AM / 13 days ago

India to give extra 33 billion rupees to help sugar mills boost ethanol capacity: minister

An employee works inside a sugar mill at Morinda, Punjab, December 30, 2010. REUTERS/Ajay Verma/Files

NEW DELHI (Reuters) - The Indian cabinet approved incentives worth 33 billion 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.

($1 = 70.0325 Indian rupees)

Reporting by Mayank Bhardwaj

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