What are the economic implications of allowing up to 35% bio-bitumen mixing as per the recent government decision
Discuss how the allowance of bio-bitumen mixing up to 35% can help save foreign exchange outflows and the estimated economic benefit of ₹10,000 crore.
- Reduced dependence on imported bitumen: Allowing up to 35% bio-bitumen mixing can help reduce the need for imported bitumen, thereby saving foreign exchange outflows.
- Economic benefit through cost savings: The use of bio-bitumen is generally more cost-effective compared to traditional bitumen, leading to overall savings in road construction projects.
- Promotion of sustainability: Bio-bitumen is environmentally friendly and helps reduce carbon emissions, aligning with global sustainability goals.
- Boost to domestic bio-fuel industry: The decision can stimulate the growth of the domestic bio-fuel industry, creating new job opportunities and economic growth.
- Estimated economic benefit of ₹10,000 crore: The increased use of bio-bitumen could result in substantial cost savings, contributing positively to the economy.
Answered
9 months ago