In the Union Budget 2011-12, a full exemption from the basic customs duty was extended to the bio-based asphalt (bioasphalt). What is the importance of this material?
Unlike traditional asphalt, bio-asphalt is not based on fossil fuels.
2. Bioasphalt can be made from non- renewable resources.
3. Bioasphalt can be made from organic waste materials.
4. It is ceo-friendly to use bioasphalt for surfacing of the roads.
Which of the statements given above are correct?