Development of biodiesel as an alternative source of energy holds a significant potential for the country in the field of agriculture besides ensuring energy security, says a report.
A target to meet 5 per cent of energy needs through biodiesel could generate 2.4 million jobs besides ensuring cultivation of 2.8 million hectares of waste land and an additional combined yearly farm income of Rs 42 billion from the fourth year onwards, a CII-Rabobank report has said.
Biodiesel initiatives can lead to considerable improvements for the rural population. Deploying wasteland for biodiesel production in the country thus seems like a win-win
situation for both the government and farmers, it said.
The US agricultural department puts India's 2006-07 oilseed production at 29.5 million tonnes, which includes rapeseed, soybeans and sunflower seed. India is among the largest soybean producers in the world at 7.3 million tonnes.
The Planning Commission has also said with 7 million hectares, a potential biodiesel production of 7 million tonnes could be realised, equal to more than 10 per cent of the country's projected diesel consumption in 2011-12.
