Forecasted tax expenditure on fossil fuels in India shows a steady increase from 2024 to 2028, with figures growing from $10.26 billion in 2024 to $12.56 billion in 2028, considering all beneficiaries or sectors. The compound annual growth rate (CAGR) over this period is approximately 5.2%. This trend suggests a consistent rise in fossil fuel-related fiscal allocation.

Future trends to watch for:

Policy shifts towards renewable energy and sustainable investments which may impact future tax expenditures.
Fluctuations in global fossil fuel prices, affecting the budgeting forecasts.
Legislative changes and international commitments under climate agreements influencing energy sector spending.