business π€ India's ethanol plan has some serious math problems
India is diverting taxpayer-bought rice meant for food security to ethanol distilleries at a lower price. This move is happening even though ethanol remains more expensive than petrol currently. The government claims the Ethanol Blended Petrol programme cuts oil imports to save foreign reserves. However, experts question the food-versus-fuel trade-off, especially with 80 crore people relying on free rations. CEA V Anantha Nageswaran suggests a cautious approach before pushing higher ethanol blends. πΎ