The Government of India has recently made it mandatory for oil marketing companies to blend 5% ethanol with petrol. Which of the following is/are the likely consequerice/ consequences of the policy?
1. Lower India's dependence on fossil oil
2. Reduce fuel import bill
Select the correct answer using the code given below.

Options

A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2