CURRENT AFFAIRS

Detailed explanation-1: -Government extends deadline for ethanol production scheme six months till April 21, 2023 | Economy News | Zee News.

Detailed explanation-2: -Govt Approach: The government is extending financial assistance in the form of interest subvention at 6 per cent per annum or 50 per cent of rate of interest charged by banks, whichever is lower, on the loans to be extended by banks for five years, including one-year moratorium.

Detailed explanation-3: -Yes, grant can be obtained from State Governments/PSUs/Other Agencies up to 20% of the total project cost.

Detailed explanation-4: -The ethanol industry does not receive federal subsidies. Unlike those for the oil industry, tax incentives for corn ethanol disappeared years ago. Fuel is not sold in a free market.