The central government reduced its energy subsidies–financial benefits provided to boost energy production and consumption–by over Rs 820 billion (Rs 82,000 crore or $15 billion) between 2013-14 and 2015-16, a drop of 38%.
During the same period, carbon-emitter fossil fuels such as coal, oil and gas remained the largest beneficiaries. While subsidies to renewables increased by over Rs 67 billion (Rs 6,700 crore or $1.05 billion), they accounted for less than 10% of the energy subsidies of the central government, according to this report by the International Institute of Sustainable Development (IISD), a think-tank, Overseas Development Institute (ODI), a think-tank and ICF India, a consultancy.
Subsidies could be transferred directly or indirectly–through transfer of money or through tax breaks, access to government land, water and other goods or legislations regulating energy prices–according to the definition by the World Trade Organization. Read More…
Energy Subsidies Cut By $15 bn; Fossil Fuels Still Largest Beneficiaries added by Business-Standard.com on
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