Modi’s green management, India can save whopping Rs 12,000 crore of forex in next four years, this is how

Modi’s green management, India can save whopping Rs 12,000 crore of forex in next four years, this is how

India News

India saved Rs 4,000 crore worth of foreign exchange last year due to ethanol blending in petrol, Prime Minister Narendra Modi said on Friday. We expect forex saving of Rs 12,000 crore in the coming four years, Modi said at an event to mark World Biofuel Day. Ethanol saves not only country’s foreign exchange, but environment as well, he said while addressing a gathering, consisting of farmers, scientists, entrepreneurs, students, government officials, and legislators. The government targets to increase ethanol blending to 10 percent by 2022.More use of biofuel will increase farmer income and also create employment opportunities, he added. Due to government’s efforts, ethanol blending in petrol increased from 38 crore litres in the ethanol supply year 2013-14, to an estimated 141 crore litres in the ethanol supply year 2017-18, he said. The government also approved the National Policy on Biofuels in June 2018, Modi added.