The total support on petroleum for fossil fuel production in India is projected to rise steadily from 2024 to 2028, with figures forecasted at $9.73 billion in 2024, escalating to $11.99 billion by 2028. Comparisons with 2023 data are not available, but the upward trend is clear. The year-on-year increase is notable, with percentages between years reflecting consistent substantial growth. The compound annual growth rate (CAGR) over this five-year period highlights a robust average annual increase.
Looking ahead, key trends to monitor include India's policy changes towards renewable energy, global oil price fluctuations, and any geopolitical developments that could influence the fossil fuel supply and demand dynamics. These factors could significantly impact the financial support for fossil fuel production in the coming years.
