Would establish a National Low Carbon Fuel Standard (LCFS) to speed the introduction of low-carbon non-petroleum fuels.

Therefore, he proposes to partially roll back the rate reduction in Central Excise duties and enhance the standard rate on all non-petroleum products from 8 per cent to 10 per cent AD valorem.

Petroleum is a non-renewable resource, and many oil fields are now getting depleted because of massive demand by consumers and industries that use fossil fuel products.