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?\n1. Unlike traditional asphalt, bio-asphalt is not based on fossil fuels.\n2. Bioasphalt can be made from non-renewable resources.\n3. Bioasphalt can be made from organic waste materials.\n4. It is eco-friendly to use bioasphalt for surfacing of the roads.

Correct Option: (B) 1, 3 and 4 only

Statement 1 is correct: Bioasphalt is a greener alternative to asphalt made from non-Petroleum materials based on renewable resources. Statement 2 is not correct: Bioasphalt can only be made from renewable sources. Statement 3 is correct: Bioasphalt can be made from organic waste materials. Statement 4 is correct: Non-petroleum based bitumen binders can be colored, which can reduce the temperatures of road surfaces and reduce the Urban heat islands.