New Budget Estimates for the Sugar Industry and a Revised Ethanol Import Duty, India – 22nd February 2021

On February 1, 2021, the Government of India’s (GOI) Ministry of Finance presented the annual budget for Indian Fiscal Year (FY) 2021/22 (April-March) and announced budget estimates of $595.2 million (INR 43.37 billion) for the domestic sugar industry and raised the import duty on denatured ethanol to five percent from its current applicable duty of 2.5 percent.