Govt aims to cut oil imports by Rs 120 billion by using biofuels: Modi
10 Aug 2018 11:56 AM IST
It plans to invest 100 billion rupees and would build 12 biofuel refineries.
Prime Minister Narendra Modi has disclosed cash in hand of Rs 48,944 significantly less than the previous year when it was Rs 1,49,700. (Photo: File)
New Delhi: India aims to cut down its oil import bill by 120 billion rupees (USD 1.74 billion) through increased use of biofuels, Prime Minister Narendra Modi said on Friday.
The South Asian nation, which imports up to 80 per cent of its oil needs, plans to invest 100 billion rupees and would build 12 biofuel refineries, Modi said.
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