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Can tax revenue keep pace with the targeted reduction in the use of coal and oil?

If India had made that transition to clean energy by 2020, the country would have been mired in a fiscal disaster in the pandemic year when revenue from almost all other sources collapsed; while tax revenue from hydrocarbons helped the economy weather the fiscal storm. The Indian economy has been able to minimise the fiscal damage from the pandemic by significantly increasing taxes on petrol and diesel.
Solar and wind energy must certainly replace fossil fuels, but India’s ambitious targets of clean energy, and the impressive achievements so far, need to be accompanied by a clear roadmap on how tax revenue will keep pace with the targeted reduction in the use of coal and oil. The government will have to find new ways to generate tax revenue by consulting with economists and businessmen.

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