Govt subsidies on oil & gas down 76% between 2014 and 2017, coal stable


Govt subsidies on oil & gas down 76% between 2014 and 2017, coal stable

Indian government subsidies for fossil fuels, including oil and gas, have decreased by 76% over the three years to 2017, but subsidies for the coal industry have remained stable over the same period, a new study by think-tank International Institute for Sustainable Development (IISD), has found.

India, the world’s second largest consumer of coal and the fourth largest emitter of carbon dioxide, accounts for 7% of global emissions and continues to subsidise the loss-making, polluting coal industry. Burning of fossil fuels, such as coal, is the largest source of greenhouse gas emissions warming up the planet.

Subsidies for oil and gas decreased from Rs 1.5 lakh crore ($21 billion) in 2014 to Rs 36,900 crore ($5.1 billion) in 2017, while coal subsidies increased by 2%, from Rs 15,650 crore ($2.20 billion) to Rs 15,900 crore ($2.23 billion), according to the December 2018 IISD study. Read More

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