India to set up National Biofuel Development Board

The new & renewable energy ministry has been given the responsibility of setting up the board, a government statement said.

The agriculture ministry is providing subsidy through National Oilseeds and Vegetable Oils Development Board (NOVOD) to farmers for production of tree borne oilseeds (TBOs), including bio-fuel crops.

TBOs are mostly non edible oilseeds crops and are excellent source for biodiesel.

Volatile crude oil prices have pushed consumers to use more "green" fuels produced from renewable resources. Ethanol and biodiesel are seen as a way to lessen dependence on foreign oil and reduce greenhouse gases.

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