India's energy subsidies have skyrocketed to a nine-year high of $39.3 billion in 2023. This surge is a response to the global energy crisis of 2022 and the country's ever-growing energy demands.
Despite India's position as a leading advocate for renewable energy on the world stage, less than 10% of these subsidies are directed towards clean energy sources.
The majority of the subsidies are directed towards fossil fuels, with coal subsidies witnessing a concerning 17% increase. This heavy reliance on fossil fuels raises concerns about the long-term sustainability of these subsidies, as they could potentially hinder India's progress towards a clean energy future.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
