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Indian Economy - Understanding the basics of Indian economic system

12-Nov-19

Indian Oil to set up Ethanol Plant

The Ministry of Environment has granted clearance to the Indian Oil Corporation Ltd (IOCL) to set up a ? 766-crore 2G Ethanol plant at Baholi in Panipat district of Haryana.
This project not only promotes use of environment friendly fuel but also aids in fulfilment of government’s goal of doubling farmers’ income.
The bio-refinery will contribute to the cleaner environment due to the usage of waste rice straw for ethanol production thereby reducing waste straw burning in fields. Blending of ethanol in petrol will also reduce Green House Gas (GHG) emissions as compared to fossil fuels.
According to the new bio-fuel policy, government aims to achieve a target of 20 per cent ethanol blending with petrol by 2030, and to have 10 per cent blending with petrol by 2022.

By: Rohit Middha

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