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India will soon be zero petroleum import country Nitin Gadkari

With the Centre focusing more on developing alternative fuel economy, India will soon stop importing petroleum products, Union Minister Nitin Gadkari said today. "We are going to develop this country where our import of petroleum will be zero. We are promoting alternative fuel like ethanol, methanol, bio-CNG...this will boost the rural and agriculture centre and create huge employment," Road Transport and Highways Minister said. Despite low prices globally, India at present is incurring a massive Rs 4.5 lakh crore on crude imports which was earlier Rs 7.5 lakh crore, Gadkari said addressing a conference on methanol economy. India is one of the fastest growing economy in the world. At present, it is "golden opportunity" to cash on its agriculture, bamboo, surplus coal and power. "The socio-economic situation is not good, agriculture is facing acute problems. This alternative fuel economy is going to change socio-economic picture of agriculture and rural economy. This is time for the country to plan the way by which we can save the life of people in rural and agriculture sectors.. We can make ethanol from biomass that is cotton straw, wheat straw, rice straw and bagasse. Even from municipal waste we can make ethanol," the minister said. The minister said ethanol is generated from biomass in Europe. One tonne of rice straw can get 400 litres of ethanol.In North East, bamboo could be used for making ethanol.