India Expands Biofuel Tax Exemptions for Vegetable Oils, Ethanol

The Indian government has expanded the country’s biofuel tax exemption to promote higher blending ratio of vegetable oils and ethanol, Reuters reported last month. The tax exemption would be applicable to a 20% portion of alkyl esters of long chain fatty acids obtained from vegetable oils blended with diesel and to an ethanol portion of 12-15% blended with gasoline, from the previous 10% blend.
India, the world’s third biggest petroleum oil importer and consumer, has been keen to reduce its import bill following a surge in global crude prices due to the conflict in Ukraine