India increased its clean energy subsidies by 31% to nearly Rs 32,000 crore in the 2023-24 financial year, marking the sharpest rise in recent years. At the same time, fossil fuel subsidies dropped by 12%, narrowing the gap between the two types of support to its smallest margin in 5 years. Despite this progress, government backing for fossil fuels still stands at roughly five times the level of clean energy spending, according to a recent IISD report.
IISD in the news
December 18, 2025