Prime Minister Narendra Modi on Wednesday said the country saved Rs 50,000 crore in foreign exchange by blending ethanol with petrol in the last seven-eight years.
Dedicating the second-generation ethanol plant of India Oil Corporation to the nation here, Modi said that the same amount of Rs 50,000 crore has gone to farmers.
Modi, who addressed the gathering through video-conferencing, said the ethanol plant worth Rs 900 crore will provide a permanent solution to the problem of stubble burning in farms.
Besides, stubble will become a source of income for farmers, Modi said, adding that ethanol production has increased from 40 crore litres to 400 crore litres in eight years.
