The tax expenditure on fossil fuel production in India is projected to rise steadily from 2024 through 2028. Despite no provided data for 2023, the forecast suggests significant growth with year-on-year increases: 5.9% in 2025, 5.6% in 2026, 5.2% in 2027, and 4.9% in 2028. Over a five-year span, the compounded annual growth rate can be calculated as approximately 5.2%.
Future trends to monitor include policy changes promoting renewable energy sources, market shifts impacting fossil fuel viability, and potential global economic fluctuations that could lead to reassessment of tax expenditure forecasts and long-term sustainability goals.
