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When compared with other G-20 nations, the results are striking. The increase in petrol tax has been over 150 per cent in India, it said.
In contrast, the governments of most advanced countries have simply passed on the benefits to consumers, setting back the cause of curbing climate change.
“As a result, India now outperforms all the countries except those in Europe in terms of tax on petroleum and diesel,” the Survey noted.
Having decisively moved from a regime of carbon subsidies, it is now de facto imposing a carbon tax on petroleum products at about USD 150 per tonne, which is about 6 times greater than the level recommended by the Stern Review on Climate Change, it added.
From Agencies, Featured image courtesy amazonaws
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