The NITI Aayog made it clear that they are working on a roadmap for full-scale implementation of methanol economy in the country in near future, which would not only curb pollution but also reduce India's dependence on oil imports as well.
On the World Environment Day, the government think-tank said it had already drawn out a comprehensive plan to replace 20 percent of crude imports using methanol alone, adding that adopting methanol in such a scale would bring down pollution in the country by more than 40 percent.
"Over a period of time, diesel can completely be done away with," the NITI Aayog said in a statement.
NITI Aayog has drawn out a comprehensive plan to replace 20% of crude imports from Methanol alone.
Adopting Methanol in this scale would bring down pollution in the country by more than 40% and not to forget the benefits from import substitution. Over a period of time of time diesel can completely be done away with.
Indian Railways alone burns three billion litres of diesel every year. Plans are in place to convert 6000 diesel railway engines to work on 100% Methanol and make railways a carbon neutral organisation.
Another major area where methanol can reduce pollution is the Energy sector. India has an installed capacity of 22000 MW on HFO (Heavy fuel oil) alone.
India by adopting Methanol can have its own indigenous fuel at the cost of approximately Rs. 19 per liter at least 30% cheaper than any available fuel.
Methanol fuel can result in great environmental benefits and can be the answer to the burning urban pollution issue. At least 20% diesel consumption can be reduced in next 5-7 years and will result in a savings of Rs. 26,000 crore annually.
Rs. 6000 crore can be annually saved from the reduced bill in LPG in the next 3 years itself. The Methanol blending program with petrol will further reduce our fuel bill by at least Rs. 5000 crore annually in next 3 years.