Budget 2019-20 should incentivise biofuel production: Pramod Chaudhari

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Budget 2019-20 should incentivise biofuel production: Pramod Chaudhari

Budget 2019-20 should incentivise biofuel production: Pramod Chaudhari

Industry News
Jul 04,19

According to Pramod Chaudhari, Chairman, Praj Industries, the budget should encourage industries to renew their focus on research and innovation to maintain an edge in the market

Budget 2019-20 should incentivise biofuel production: Pramod Chaudhari

Pune

To cut down import bill and carbon footprint, budget 2019-20 should provide incentives for biofuel production, according to Pramod Chaudhari, Executive Chairman, Praj Industries India - a leading provider of sustainable solutions for bioenergy, high purity water, critical process equipment, breweries and industrial wastewater treatment.

“As India is the third largest importer of petroleum products in the world, the government should step up its endeavors in the direction of energy self-reliance by harnessing biofuels in its energy mix. The budget should provide necessary fiscal incentives towards production and adoption of biofuels. This should help reduce carbon footprints so as to meet COP21 obligations whilst boosting the rural economy. We expect the budget to balance fiscal consolidation, while also boosting economic growth,” elaborated Pramod Chaudhari.

He added, “With the renewed mandate, the NDA government should continue its focus towards reinforcing key pillars of the economy i.e. agriculture, infrastructure and manufacturing with the underlying intention to generate employment. The budget 2019-20 should encourage industries to renew their focus on research and innovation to maintain an edge in the market place.”