Can the covid-19 crisis help remake India’s energy economy?
Just how dependent is India on fossil fuels? The Mapping India’s Energy Subsidies 2020 report, released on 16 April, gives a useful overview of India’s energy subsidy mix and also analyses the country’s policies on subsidies. Prepared by the International Institute for Sustainable Development’s (IISD) Global Subsidies Initiative and the Council on Energy, Environment and Water (CEEW), the study is an update on an earlier analysis prepared in 2017.
India’s three-trillion economy is set to grow to a seven-trillion economy by 2030, according to a Deutsche Bank report in January. At the same time, India’s commitment towards climate change mitigation, according to its 2015 Nationally Determined Contribution (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC), includes a pledge to reduce the emissions intensity of its GDP by 33-35% by 2030 from the 2005 level. It also includes the goal of ensuring that 40% of the country’s power generation comes from non-fossil fuel (oil, coal, and gas) based energy by 2030.
