The think-tank Niti Aayog is considering a proposal for suggesting the creation of a Methanol Economy Fund with a corpus of Rs4000-Rs5000 crore. The idea is to have an installed capacity of three-four million tonnes of methanol in the next five-eight years to help replace 50% of the fossil fuel requirement of the country. At least 20% diesel consumption can be reduced in next five to seven years and will result in a savings of Rs 26,000 crore annually. Rs 6,000 crore can be annually saved from reduced bill in LPG in the next three years itself.
About Methanol
