Jatropha answer to fuel crisis: FICCI
The Centre should grant a 10-year exemption of excise and customs duties as well as Central and state levies on bio-diesel or Jatropha oil to encourage large-scale corporate plantation and reduce India's massive crude oil import bill, industry cha...
By PTI |
NEW DELHI: The Centre should grant a 10-year exemption of excise and customs duties as well as Central and state levies on bio-diesel or Jatropha oil to encourage large-scale corporate plantation and reduce India's massive crude oil import bill, industry chamber FICCI said on Sunday.
To give further encouragement to FDI for Jatropha cultivation and production of bio-diesel, the chamber suggested combining the cultivation with National Rural Employment Guarantee (NREG) Scheme.
India produced 32 million tonnes of crude oil and imported nearly 99 million tonnes, which is nearly 80 per cent of its requirement in 2005-06, at a cost of Rs.1,71,702 crore.
The country's known crude oil reserve is estimated to last only for the next two decades. Substitution of bio-fuel for oil will help reduce imports and improve environment, a FICCI release said.
These plantations would help India tap the opportunities available under Clean Development Mechanism, he said.
The Centre can encourage farmers to cultivate Jatropha by implementing single window clearance and simplifying the process of availing credit, the chamber said, adding a National Bio Fuel Policy must be prepared at the earliest.
With India's booming economy, the diesel requirement in transport sector is expected to grow from current levels of 44 million tonnes to 67 million tonnes by 2010 and biofuels production is a certain solution to the problem.
To give further encouragement to FDI for Jatropha cultivation and production of bio-diesel, the chamber suggested combining the cultivation with National Rural Employment Guarantee (NREG) Scheme.
India produced 32 million tonnes of crude oil and imported nearly 99 million tonnes, which is nearly 80 per cent of its requirement in 2005-06, at a cost of Rs.1,71,702 crore.
The country's known crude oil reserve is estimated to last only for the next two decades. Substitution of bio-fuel for oil will help reduce imports and improve environment, a FICCI release said.
These plantations would help India tap the opportunities available under Clean Development Mechanism, he said.
The Centre can encourage farmers to cultivate Jatropha by implementing single window clearance and simplifying the process of availing credit, the chamber said, adding a National Bio Fuel Policy must be prepared at the earliest.
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With India's booming economy, the diesel requirement in transport sector is expected to grow from current levels of 44 million tonnes to 67 million tonnes by 2010 and biofuels production is a certain solution to the problem.
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