Fossil fuels out, CNG lone winner in Modi govt’s Rs 16,000 cr Sovereign Green Bond push

CNG (Compressed Natural Gas) is the only fossil fuel marked as eligible for subsidies, incentives and other benefits under the Sovereign Green Bonds approved by Union Finance Minister Nirmala Sitharaman on Wednesday. However, the maiden green bonds framework has only allowed expenditures pertaining to public transportation. “Subsidy/incentive for private transportation using CNG is neither envisaged nor included,” the government said. The public transportation chain in India includes, both the mass option such as buses, as well as individual point-to-point options comprising autos, taxis, and app-based services such as Uber and Ola.