In a recent event on Tuesday, hosted by Domestic Brokerage Elara Capital, our Union minister Nitin Gadkari shared a few words regarding Biofuel Vehicles. He said India will most certainly be making it obligatory for auto manufacturers to offer vehicles that will not be running on petrol but biofuel instead, within 6 months. The minister gave a comprehensive idea over various aspects of the biofuel approach. Before diving into that, one should have a clear picture of what biofuel is.
What is meant by Biofuel?
Biofuel is the fuel of any category which is obtained from biomass ( plant or animal waste). Perhaps, it is considered as a source of renewable energy, the reason being it can be effortlessly replenished. Additionally, it also withdraws to contribute as one of the reasons of global warming unlike coal, petroleum and natural gas.
What are biofuel vehicles?
Vehicles that run on biofuel are categorized as biofuel vehicles. In India, vehicles will be running on this alternative biofuel in the very recent future. It will be a true bliss for the consumers who are consistently dealing with the problem of petroleum prices hitting the ceilings. Bringing in this reviving change will be cost-effective since a litre of bioethanol costs Rs. 65 whereas the petrol demands for Rs. 110 per litre. Furthermore, biofuel participates in causing less pollution than the other fuels.
Our Union Minister shared details and other relevant information in the event which are as follows:
⦁ Flex engine Vehicles – Gadkari stated that companies under ‘ State-run Oil Marketing Companies ‘ are ordered to facilitate biofuels just like petrol and diesel. He quoted, “ Within six months, we will give orders for making flex engines “. “ We are committed to being delivering vehicles with flex engine norms “, were his exact words in the event.
⦁ Consumer’s choice- Invoking the significance of less- pollution-causing fuel, the minister expressed that after this step of making bioethanol mandatory to offer, it is the consumer’s sole decision to opt-in either biofuel or continuing with the petrol. However, it is of great importance to switch to fuel which will not be devaluing our environment just how petrol does.
⦁ Reasons why you should switch to bioethanol – In India, crops like corn, sugar, maize, rice, etc. are grown on an impressively large scale from which the bioethanol is obtained. Therefore, it can be utilized in making biofuel since it is available reasonably as a resource. The minister stated that it is very significant to take these resources into action to generate biofuel which is undoubtedly for the betterment of our country.
The Union Minister also highlighted his willingness to behold India as the Leading Manufacturing Hub in the world proving services across the globe. In addition, he gave an overview of how the Vehicle Scrappage Policy will be helping in the production of bioethanol. India wants to relieve the consumers from a load of hiked prices of petrol. One of the most impactful initiatives is to make it obligatory for auto manufacturers to offer biofuel vehicles in the next six months. It is most likely to be helping the consumers switch from petroleum to bioethanol.