The growth of the Ethanol sector is an example for the world: Shri Goyal.

Topic: GS3 – Indian economy.

Issue:

• Union Minister Shri Piyush Goyal praised the growth of the ethanol sector, which he said has set an example for the world.
• Goyal said that in the past 9 years, the sugar sector has been self-sufficient, with over 9% payment to farmers for the previous season.
• Ethanol will support maize farmers in increasing their income and bringing growth with stability, similar to sugarcane farmers.
• The investment of thousands of crores in the ethanol sector has created thousands of jobs in the rural industry and generated a multiplier effect on the Indian economy.
• Ethanol as an environment-friendly fuel is on the top priority list – resulting in more than doubling ethanol blending in just 2 years.
• The 20% ethanol blending target has been preponed from 2030 to 2025.
  

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Government launches Vivad se Vishwas scheme for relief to MSMEs for COVID-19 period, as announced in the Union Budget 2023-24

Topic: GS3 – Indian economy, Government schemes.

Issue:

• Ministry of Finance has launched a scheme called “Vivad se Vishwas I – Relief to MSMEs” to relieve Micro, Small and Medium Enterprises (MSMEs) during the COVID-19 period.
• The scheme relieves MSMEs of failure to execute contracts during the COVID period by refunding 95% of the forfeited amount relating to bid or performance security by the Government and Government undertakings.
• Specific relief has also been provided to MSMEs debarred for default in the execution of contracts during the COVID-19 period.
• The Ministry of Finance provides additional benefits to eligible MSMEs, including refunding 95% of the performance security forfeited, bid security, liquidated damages, risk purchase amount realized, and revoking the debarment in case of default in the execution of contracts.
• The eligible claims shall be processed only through Government e-Marketplace (GeM).