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Removing subsidies on fossil fuel production-II: India provides very little incentives, says global paper
Feb 15: Contrary to conventional thinking, there is very little production subsidy given to fossil fuels production in India, according to this authoritative global paper.
8Subsidies given by Australia, UK and Germany in fact are far greater
8Natural gas production subsidies are far higher in Russia, Argentina, Russia, the UK and US that in India
8Similarly, subsidies on oil production by the US, Russia, Brazil, Canada and even China far exceeds that of India
8This data makes interesting reading for both the oil and gas industry and policy makers.
8The notion that the industry is sop ridden can be dispelled using this data
8Perversely perhaps, the industry can make a reasonable plea for grant of subsidies for sustainable production in light of huge subsidies granted by competing producers of fossil fuels abroad
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