Prime Minister Narendra Modi on Friday said that the government is aiming to cut down its oil import bill by almost Rs 12,000 crore or $1.74 billion by increasing the use of biofuels, reported news agency Reuters. It may be noted that the country, which is the third-highest importer of oil, is planning to invest Rs 10,000 crore to build 12 biofuel refineries.
Speaking on World Biofuel Day, Modi said biofuel will create more jobs in India apart from uplifting the village economy. Worth mentioning that that government is planning to create a $1 trillion biofuel economy. Read More
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