Carbon Tax On Fuels: India’s New Initiative
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Abstract
India is the third-largest emitter of Greenhouse Gasses in the world, and about 57% of the deaths which occur in India are directly caused because of increased air pollution levels. The devastating effect which global warming is having on our climate and in turn on the India economy is now directly visible, and it is becoming more and more urgent that these emissions are reduced to stop us from exerting so much pressure on the planet. A carbon tax has proven to be one of the most successful and cost-effective methods of curbing pollution globally. At present India has only levied carbon tax on coal at Rs 400/ton while major emitters like diesel, petrol and other fuels are not yet covered. The present paper makes an attempt to determine the carbon tax rate that can be imposed on the various categories of fuel and the amount of revenue that can be generated from the imposition of carbon tax rates from each category of fuel.
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