BANGALORE: Civil society organisations from the city on Friday engaged in a debate on energy subsidies and their impact on the economy of India, which in 2010, spent more that $22 billion subsidising fossil fuels according International Energy Agency. Sixteen billion dollars was spent on oil products and the discussion highlighted that though fuel prices have been liberalised, there was still significant subsidies being given for diesel, kerosene and LPG.
Non-Governmental Organisations (NGOs), corporates and academicians who assess government strategies for reforming fuel subsidies in the country took part in the discussion held at The Energy and Research Institute (TERI). It was jointly organised by International Institute for Sustainable Development’s Global Subsidies Initiative and TERI.