News > India may see revenue gap of USD 178

India may see revenue gap of USD 178

07/07/2022 10:27 PM | Click to read full article

India could see a revenue gap of USD 178 billion by 2050 due to high reliance on revenues from fossil fuels, as the world transitions from fossil fuel-based energy systems to cleaner energies to limit global warming to 1.5 degree C under the 2015 Paris Agreement goal.

India’s present revenues from fossil fuels is 92.9 billion USD which is 18% of government’s revenue and 3.4% of gross domestic product (GDP) according to the report.