International Institute for Sustainable Development: India Faces Clean Energy Challenges as Energy Demand Soars and Global Fossil Fuel Subsidies Rise
March 12, 2024
March 12, 2024
WINNIPEG, Manitoba, March 12 -- The International Institute for Sustainable Development issued the following news release:
The 2022 global energy crisis, together with India's growing energy demand, has led the country to adopt a hybrid approach, expanding all forms of supply in 2023. This approach has pushed India's total energy subsidies to a 9-year high of INR 3.2 lakh crore (USD 39.3 billion) for the fiscal year ending 2023 (FY 2023), new research suggests.
The 2022 global energy crisis, together with India's growing energy demand, has led the country to adopt a hybrid approach, expanding all forms of supply in 2023. This approach has pushed India's total energy subsidies to a 9-year high of INR 3.2 lakh crore (USD 39.3 billion) for the fiscal year ending 2023 (FY 2023), new research suggests.