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The most important explicit subsidies administered through the Central Government budget are food and fertiliser subsidies, and until recently, export subsidies. These subsidies account for about 30% of the total central subsidies in a year and have grown at a rate of approx 10% per annum over the period 1971–72 to 1996–97.
Coal India Limited (CIL) is an Indian public sector undertaking and the largest government-owned coal producer in the world. [4] [5] [6] Headquartered in Kolkata, it is under the administrative control of the Ministry of Coal, Government of India. [2] It accounts for around 82% of the total coal production in India. [7]
[36] Globally, fossil fuel subsidies were $5.9 trillion which amounts to 6.8% of GDP in 2020 and are expected to rise to 7.4% in 2025. [37] The table below shows excerpts from a 2021 IMF study for 20 countries with biggest subsidies. It also shows the biggest component of explicit subsidies, electricity costs, and of implicit subsidies, coal.
[62] [63] In India, coal is the bulk primary energy contributor with 56.90% share equivalent to 452.2 Mtoe in 2018. [8] India is the second largest producer of coal in 2023. [64] India is also the second-largest importer of coal 141.7 Mtoe in 2018 and the second-largest consumer of coal with 452.2 Mtoe in 2018. [8]
These states lost their competitive advantage of holding the minerals, as the factories could now be set up anywhere in India. This was not the case in the pre-independence era, when the major business houses like the Tatas and the Dalmias set up industries in Bihar, and most of the engineering industry was located in the state of West Bengal ...
Urea subsidy CS MoCF: 1977 Subsidy The first urea subsidy scheme was in 1977 in the form of Retention Price cum Subsidy scheme (RPS). From ₹ 4,389 crore (US$2.51 billion) in 1990 to ₹ 75,849 crore (US$17.43 billion) in 2008. As %ofGDP this is an increase from 0.8% to 1.5%.
Coal in India has been mined since 1774, and India is the second largest producer and consumer of coal after China, mining 997 million metric tons (1,099 million short tons) in FY 2023-24. Around 20% of coal is imported.
The Ministry of Coal is responsible for development and exploitation of coal and lignite reserves in India. The subjects allocated to the Ministry which include attached and sub-ordinate or other organisations including PSUs concerned with their subjects under the Government of India (Allocation of Business) Rules, 1961, as amended from time to ...