More use of biofuel will increase farmers' income and create employment: PM

New Delhi: Prime Minister Narendra Modi on Friday said more use of biofuel by farmers will increase income and employment in farm sector. Government has fixed minimum support price (MSP) of 14 crops at 1.5 times the cost of production.

Ethanol production to rise to 450 crore litres in next 4 years from 141 crore litres; to triple import savings at Rs 12,000 crore.  Earlier governments did not take ethanol production programmes seriously, now India will produce 450 crore litre in next 4 years.

Government targeting 10 per cent ethanol blending in petrol by 2022 and 20 per cent by 2030. 12 biofuel refineries at Rs 10,000 crore investment planned in the country, says PM Narendra modi.

(With inputs from PTI)