A new study by the International Institute for Sustainable Development (IISD) and the Council on Energy, Environment, and Water (CEEW) report stated that India’s renewable energy subsidies fell 35% between 2016-17 and 2018-19.
Report Highlights:
♦ The report was titled “Mapping India’s Energy Subsidies 2020” which said that the support for renewable energy was to increase again. But the COVID-19 pandemic has made it critical to stay on track.
♦ Policy decisions such as the solar safeguard duty and tariff caps on auctions meant that there was a slowdown in new capacity addition and as a result of lower state subsidy outgo as well.
♦ Those resources post-COVID-19 will present a good opportunity for the government to rein in specific fossil fuel subsidies and create more fiscal room to promote renewables and other welfare schemes.
♦ It also said that the oil and gas subsidies, however, increased by 65% in the same period.
