Government to Launch National Critical Mineral Mission
In an effort to secure key resources for industrial and technological growth, the government is planning to introduce a National Critical Mineral Mission. This initiative is expected to focus on reducing India’s dependence on imported essential minerals, ensuring a stable supply chain for industries like electronics, renewable energy, and defense.
“Focus on Strengthening Domestic Resources”
The mission is part of a larger strategy to boost self-reliance in key sectors by identifying, extracting, and processing critical minerals domestically. The initiative aims to develop a sustainable supply chain while promoting investment in mining and mineral exploration.
Experts believe that India’s growing demand for essential minerals such as lithium, cobalt, and rare earth elements has necessitated a structured approach to their extraction and utilization. The mission will also encourage research, development, and partnerships to enhance domestic capabilities.
Ethanol Procurement Price Revision on the Cards
The government is also considering revising ethanol procurement prices to support its ethanol blending program. This move is aimed at reducing dependence on fossil fuels while boosting domestic biofuel production. The revised pricing structure is expected to benefit oil marketing companies and ethanol producers by ensuring better market stability and pricing transparency.
The ethanol blending initiative has been a key policy focus, with the government targeting a 20% ethanol blend in petrol by 2025. The upcoming budget is likely to include measures to facilitate this transition, ensuring steady procurement and financial viability for stakeholders.
Key Budgetary Focus on Energy and Resources
The National Critical Mineral Mission and ethanol pricing revision highlight the government’s focus on securing resources and promoting sustainable energy solutions. The upcoming budget is expected to introduce policy frameworks and incentives to drive investment in these crucial sectors.
With the implementation of these initiatives, India aims to strengthen its industrial foundation while reducing reliance on foreign imports, ensuring long-term economic and energy security.
