Moving on the way of becoming self-sufficient in fuel, the government is planning to cut oil products imports to zero by giving a boost to alternative fuel use. Transport Minister Nitin Gadkari has said that the centre is trying its level best to reduce imports of fuel and is turning to alternative fuels such as methanol in the transport sector.
Gadkari also said that with focus on developing alternative fuel economy, government is planning to start 15 factories to produce second generation ethanol from biomass, bamboo and cotton straw, as it aims to develop its mandate to blend ethanol into 5 percent of gasoline. New Delhi also wants to raise the use of natural gas in its energy mix to 15 percent in three to four years from 6.5 percent now, to cut the country's carbon footprint.
At present, India is the world's third-biggest oil consumer, importing about 33 million tonnes of oil products over April 2016 to February 2017, up nearly 24 percent from the same period a year ago. Going further, energy consumption of the country is expected to grow as it targets between 8 to 9 percent economic growth this fiscal year from around 7 percent in 2016/17.
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