PM Modi: Prior governments not serious on ethanol output, now it will save Rs 12k cr

Delhi, Aug 10 Prime Minister Narendra Modi today blamed previous governments for not considering the ethanol blending program important and said now its creation will triple to 450 crore litres in the next four years, prompting import savings of Rs 12,000 crore.

"Ethanol blending program was begun during Vajpayee government. But previous governments did not consider ethanol program seriously. Presently we will deliver 450 crore liter of ethanol in next four years from existing 141 crore liter. It will bring about import investment funds of Rs 12,000 crore," Modi said tending to an occasion here to mark World Biofuel Day.

India meets more than 80 percent of its oil needs through imports.

Apart from the push on use of electricity, particularly from renewable sources, India is promoting biofuels for reducing its crude import bill.

Modi said upwards of 12 biofuel refineries at an investment of Rs 10,000 crore have been arranged in the nation. The government will accomplish 10 percent ethanol blending in oil by 2022 and is targeting to double it to 20 percent by 2030, he included.

Modi said that one refinery will produce work for 1,000-1,500 people.

The Prime Minister was of the view that increasing use of biofuels would upgrade agriculturists' wage and produce work in the nation.

He also said 175 bio-CNG plants have been set up in the country and communicated hope that before long individuals would see vehicles running on this source of energy.

He lauded the efforts of his government for fixing the base help cost of 14 kharif crops at 1.5 times the cost of generation to support ranchers' pay.

On this event, he also propelled an online interface 'Parivesh' for speedy environment clearance of projects and also unveiled the National Biofuel Policy, 2018.