India, Dec. 17 -- Clean energy subsidies rose 31% to nearly Rs 32,000 crore in 2023-24, a report says.

Fossil fuel subsidies fell, narrowing the support gap to a five-year low.

State-owned enterprises directed 83% of energy capex to fossil fuel projects.

Electricity subsidies reached a record Rs 2.1 lakh crore.

IISD warns fossil-heavy public investment could slow the energy transition.

Clean energy subsidies in India rose by 31 per cent year on year to nearly Rs 32,000 crore in the 2023-24 financial year, while fossil fuel subsidies fell by 12 per cent, narrowing the gap between the two to its lowest level in five years, according to a new report.

However, government support for fossil fuels remains around five times higher than spe...