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On World Biofuel Day, the Prime Minister of India yesterday envisioned an increase of three-fold ethanol production so as to save Rs. 12000 crore on oil imports. PM also informed about an investment of Rs 10,000 crore for the set-up of 12 bio-refineries in the nation for the production of fuel. India currently relies on imports to meet 81% its fuel demands.
After the Indian Government’s announcement to ban single-use plastics, 19 states across India have enforced a complete ban on the use of plastics. But the implementations have been, reportedly, facing challenges and are partially obeyed because consumers cannot find any cheap replacement of the same. The Government plans of a plastic-free country by 2022 but the main problem lies in the disposal of plastic wastes.
If sources were to be believed, India might bring jet fuel and natural gas under the GST regime. The proposal to impose a 28% tax on aviation fuel will be under consideration on July 21st when a tax panel will mull over the topic. If aviation fuels are brought under GST, airlines will find it easier to make payments as the rates will be uniform across the country.