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Oil import bill to be reduced drastically
India is, by and large, an oil-importing nation and the country spends a huge amount of money for the import of crude oil from global producers. According to estimates, 20% ethanol mixing in petrol will result in an annual saving of around ₹30,000 crore. India’s net petroleum import bill was $551 billion in In FY2020-21. This could potentially help in bringing down import costs.
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The above news was originally posted on auto.hindustantimes.com
