new Delhi. Petroleum Minister Dharmendra Pradhan said on Wednesday that India has reduced the time limit for achieving the target of adding 20 percent ethanol to petrol by five years to 2025. This step has been taken with the intention of reducing dependence on expensive oil imports. He said at the FIPI (Federation of Indian Petroleum Industry) awards ceremony that less than one percent of ethanol was being blended in petrol in 2014, against the target of 5 percent. This ratio has reached 8.5 percent in the last Chinese year and will be 10 percent next year.
Last year, the government set a target of 10 percent ethanol blending in petrol by 2022 (mixing 10 percent ethanol with 90 percent petrol) and 20 percent by 2030. He said that, but now a target of 20 percent has been set to be achieved by 2024-25. Pradhan said that if this goal is achieved, India will be the second country after Brazil to add ethanol to petrol. But in absolute terms we will be ahead of Brazil.
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India is 83 percent dependent on imports to meet its oil needs. Imports can be reduced by mixing ethanol in petrol. Also, ethanol is a less polluting fuel. Therefore, this will reduce carbon emissions. Pradhan said that by 2025, 1,000 million liters will be needed to add 20 percent ethanol. At current prices it is between 60,000 and 65,000 crores.
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Increasing the ethanol mixture in petrol will provide an additional source of income to the sugar mills and help them in paying the dues of the farmers. Pradhan said that we have the ability to become the number one country in the ethanol-petrol mixture ratio. Government is also paying special attention to domestic oil and gas production to meet the growing energy needs of the country. He said that India will be the fastest growing energy consumer in the world and the government aims to provide affordable, easy, sustainable, efficient and safe energy to all.
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