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?
1. Unlike traditional asphalt, Bioasphalt 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 eco-friendly to use Bioasphalt for surfacing of the roads.
Which of the statements given above are correct?
1. 1, 2 and 3 only
2. 1, 3 and 4 only
3. 2 and 4 only
4. 1, 2, 3 and 4