Biofuel Policy in Indian Perspective: Socioeconomic Indicators and Sustainable Rural Development

Abstract

Biofuels are regarded as one of the most promising options to fulfill the higher energy requirement in future and simultaneously decarbonize the environment caused by excessive usage of fossil fuels. Technologies for the production of biomass based fuels particularly bioethanol and biodiesel are rapidly developing. However, successful commercialization of biofuels is still far due to high capital and operation expenditures and technical immaturities at large operations. Biofuel policies from major biofuels supporting nations might capitalize rural economic development and sustainable agricultural growth after strongly promoting biofuels. India has a biofuel policy, which foresees biofuels as potential candidates stimulating rural development by generating employment opportunities, together with environmental and economic benefits. The biofuel industrial sector has shown promising results and could serve as a potential source of substantial employment in near future. However, for the successful incorporation of biofuel policy, sustainable key indicators encompassing social and economic factors need to be evaluated properly in different scenarios. This chapter discusses the biofuel policies, key sustainable indicators, socioeconomic aspects of biofuels in Indian perspective.