India’s clean energy subsidies surged 31% in FY24, narrowing the gap with fossil fuels, though state-owned enterprises remain heavily invested in fossil fuels. Despite progress in non-fossil electricity capacity, a significant increase in electricity subsidies and heavy reliance on fossil fuel revenue pose fiscal challenges.India’s clean energy subsidies surged 31% in FY24, narrowing the gap with fossil fuels, though state-owned enterprises remain heavily invested in fossil fuels. Despite progress in non-fossil electricity capacity, a significant increase in electricity subsidies and heavy reliance on fossil fuel revenue pose fiscal challenges.
