India’s total energy subsidies in FY14-FY19 period
In FY19, subsidies for oil, gas and coal amounted to Rs 83,134 crore, compared to Rs 11,604 crore for renewables and electric mobility
In FY 2014, fossil fuel subsidies have fallen by more than half, largely driven by falling world oil prices and policy reforms to diesel and kerosene pricing, while subsidies for RE and EVs have increased over three and a half times, largely due to policy efforts to meet capacity targets. EV subsidies, in particular, have increased over 440 times from a very low baseline in FY 2014. Subsidies for fossil fuels are still over seven times larger than subsidies for alternative energy. Here is a snapshot:
Source: ‘Mapping India’s Energy Subsidies 2020: Fossil fuels, renewables, and electric vehicles’ report by IISD and CEEW
Source: energy.economictimes.indiatimes
