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Go-ahead for New Biofuels Policy
INDIA - The Indian Government has approved the founding of a National Policy on Biofuels in a bid to meet rising oil prices and environmental issues..According to Newstrack India the country aims to raise 20 per cent of its ethanol-mixed petrol and diesel by 2017.
The new policy will make it mandatory for all the oil companies to sell 20 per cent ethanol-blended petrol, however, the Indian Government has put in provisions for a biodiesel blend as an alternative fuel after ensuring the adequate availability of biofuel plants such as jatropha.
The National Biofuel Co-ordination Committee headed by the Prime Minister with eight different departments and Biofuel Steering Committee chaired by cabinet secretary along with all concerned departments will be framing the detail of the policy.
The policy aims to boost the ethanol mix in petrol from currently five per cent to 10 per cent by October this year.
The cabinet meeting also called for the scrapping of all central taxes on biofuels and only states would be allowed to levy sales tax (four per cent Value Added Tax) on it to reduce the sales cost of it and to make it uniform for all the states under “Declared Goods”.
This biofuel policy was reached after a long consideration. A recommendation committee of more than seven ministers had been set up under the chairmanship of Union Agriculture Minister Sharad Pawar to debate on issues concerned before finalising the policy, Newstrack says.
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