India will triple its ethanol production over the next four years till 2022 and this will save ₹12,000 crore in the country’s oil import bill, Prime Minister Narendra Modi said on Friday, which is being celebrated as World Biofuels Day.
The Prime Minister also blamed the previous government for not encouraging the production and adoption of ethanol, saying his government has planned 12 biofuel refineries in the country at an investment of ₹10,000 crore. “The ethanol blending programme was started during the Vajpayee government,” Mr. Modi said.
“But previous governments did not take the ethanol programme seriously. Now we will produce 450 crore litres of ethanol in the next four years from the existing 141 crore litres.
This will result in an import savings of ₹12,000 crore.” The government will achieve 10% ethanol blending in petrol by 2022 and is aiming to double it to 20%,” Mr. Modi added. Read More