– Government is creating a conducive ecosystem to provide maximum energy security to the country
– Schemes including Bio Fuel Policy, Make in India, Skilling India, Electric Vehicle Mission and Digital India, are all contributing to the sector’s growth
New Delhi, February 18, 2019: During its tenure, the Modi government has launched various schemes and initiatives across various sectors to benefit the overall economy. The Union Budget 2019 announcements will contribute immensely to the energy and environment sector.
India’s commitment towards climate change with a great push to the renewable energy sector will open new business opportunities and will pay back to the economy as well.
BioD Energy, a company into biodiesel production from used cooking oil, appreciated the Union Budget 2019, today. Welcoming the Finance Minister’s Budget 2019 announcements, Shiva Vig, CEO, BIOD Energy (India) Pvt Ltd. said, “The National Bio Fuel Policy, setting up of the International Solar Alliance headquarter in India, announcement of the renewable sector being the new age job creator, EV 2030 mission etc – all will together provide energy security to the country, making renewable a sunrise sector”.
India’s import dependence on crude oil and natural gas has been a source of big concern to our Government. Shiva said, “Renewable products are becoming a major source of energy supply and here, bio fuels will add immensely to clean environment as better health of the nation. While we have taken a large number of measures to moderate the increasing demand through usage of bio fuel and alternate technologies, urgent action is needed to increase hydrocarbon 13 production to reduce imports.”
Currently, diesel alone meets an estimated 72% of transportation fuel demand followed by petrol at 23% and the rest of the gap is fulfilled by other fuels such as CNG, LPG, etc.
Shiva added, “Ease of doing business with streamlining of e-way bill system will help players in the energy sector. Now the inter-state movements will become faster, more efficient, and hassle free with no entry tax, check posts, and truck queues among others.”
Shiva on behalf of the oil and energy sector requested government to re consider few more demands post budget while doing the revision, “Zero duty on the import of the machineries for putting up biofuel/ biodiesel plant will immensely support the sector. Incentives on the collection and processing of Used Cooking Oil (UCO) could offer much need thrust to the industry.”
Corporate Comm India(CCI Newswire)