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[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.
In the case of coal, plans were made in 2006 to build a 100 MW coal power plant (the Yayu coal power plant) which would use coal and lignite from a nearby coal mine. The capacity of 100 MW is extremely small by international standards (2000–4000 MW being the norm), but still, an active environment lobby managed to sabotage the plans, with the ...
Even if merit subsidies are set aside, the remaining subsidies alone amount to 10.7% of GDP, comprising 3.8% and 6.9% of GDP, pertaining to Centre and State subsidies respectively. The average all-India recovery rate for these non-merit goods/services is just 10.3%, implying a subsidy rate of almost 90%.
The carbon content is low in India's coal, and toxic trace element concentrations are negligible. The natural fuel value of Indian coal is poor. On average, the Indian power plants using India's coal supply consume about 0.7 kg of coal to generate a kWh, whereas United States thermal power plants consume about 0.45 kg of coal per kWh.
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]
According to British academic Stuart Corbridge, the policy discouraged the establishment of "resource-processing industries in eastern India, as opposed to the extractive industries, which seem to have imposed on the region a version of the 'resource curse' noted more frequently in sub-Saharan Africa." [4]
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] India is also home to the world’s largest coal company, Coal India Ltd, which controls 85% of the country’s coal production with 7.8% production share of coal (including lignite) in the world. [65]
The UMPPs are seen as an expansion of the MPP (Mega Power Projects) projects that the Government of India undertook in the 1990s, but met with limited success. The Ministry of Power , in association with the Central Electricity Authority and Power Finance Corporation Ltd. , has launched an initiative for the development of coal -based UMPP's in ...