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, 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 eco-friendly to use bioasphalt for surfacing of the roads. Which of the statements given above are correct?

1. Statement 1 is correct: Bioasphalt is derived from biomass sources like plant oils, lignin, or other organic materials, unlike traditional asphalt which is a petroleum byproduct (fossil fuels). 2. Statement 2 is incorrect: Bioasphalt is typically made from renewable resources (biomass), not non-renewable resources. Traditional asphalt relies on non-renewable fossil fuels. 3. Statement 3 is correct: Many bioasphalt production methods utilize organic waste materials, such as waste cooking oil, swine manure, or lignin from wood pulp processes. 4. Statement 4 is correct: By using renewable resources, often waste materials, and reducing reliance on fossil fuels, bioasphalt is considered more eco-friendly for road surfacing compared to traditional asphalt. Therefore, statements 1, 3, and 4 are correct.