Amendment on Bio-Fuel policy by Union Cabinet
Team Ambitiousbaba are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “Amendment on Bio-Fuel policy by Union Cabinet”
The Union Cabinet on Wednesday has given their approval on advancing the target of blending 20 per cent ethanol in petrol by 5 years to 2025-26 as well as allowing more feed stocks for the production of bio fuels in a bid to cut dependence on imported oil for meeting the country’s energy needs.
The Cabinet led by Prime Minister Narendra Modi has approved the amendments to the National Policy on Bio-fuels at its meeting.
The main amendment is for advancing the target of blending 20 per cent ethanol in petrol (20 per cent ethanol, 80 per cent petrol) to 2025-26 from 2030.
Currently the 10 per cent of ethanol is blended in petrol.
Also, more feed stocks have been granted for the production of bio fuels which can be used as subsidiary elements with auto fuels.
Benefits of latest policy:
It promotes the production of bio fuels in the country, under the Make in India programme, by units situated in Special Economic Zones (SEZ)/ Export Oriented Units (EoUs).
These decisions will relief for India which currently has reliance on imports for meeting 85 per cent of its oil needs. It will help India to cut its dependence on overseas shipments.
The Cabinet also granted permission for export of bio-fuels in specific cases.
The amendments will also draw a silver lining and foster developments of indigenous technologies which will make the path for the Make in India drive and thereby generate more employment.
The existing National Policy on Bio fuels came in force in 2018.
Since many more feed stocks are being granted for the production of bio fuels, this will encourage the Atmanirbhar Bharat and give a drift to Prime Minister’s vision of India becoming ‘energy independent’ by 2047.
Question & Answer:
Q1. Which amendment policy has been approved by union cabinet recently?
Ans. Amendment on Bio-Fuel policy
Q2. In which year National policy on Bio Fuel was came?
Q3. What is the advance target for blending ethanol in petrol by 5 years?
Ans. 20% by five years (2025-26 to 2030)
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