Roadmap for Answer Writing 1. Introduction Briefly introduce the significance of the Union Budget in shaping economic policies and its potential impact on women-led development. 2. Key Areas of Focus Identify and elaborate on specific areas where the budget can promote women-led development: Financial Allocation: ...
Model Answer Reducing Greenhouse Gas (GHG) Emissions Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financRead more
Model Answer
Reducing Greenhouse Gas (GHG) Emissions
Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financial incentives for emission reductions. For example, trading in sulfur dioxide permits successfully helped reduce acid rain in the U.S. Carbon trading systems have been adopted globally, covering over 21% of global emissions by 2021, up from 15% in 2020-Effectiveness and Flexibility**
Carbon trading is often more cost-effective than imposing direct regulations or taxes on emissions, allowing industries to meet emissions targets without the heavy burden of direct control measures. This flexibility helps reduce the overall societal costs of combating climate change .
Alih the Paris Agreement
Carbon markets align with Article 6 of the Paris Agreement, encouraging international cooperation by facilitating the trade of carbon credits. This fosters a collective global effort to achieve emissions reduction goals .
Promoting Innd Financial Benefits
The system incentivizes industries to innovate and adopt cleaner technologies to reduce emissions. It also offers financial rewards for entities that emit less than their allowed limits by enabling them to sell unused credits .
Key Features oon Credit Trading Scheme (CCTS) 2023
Governance and Oversight
The Ministry of Power has set up the CCTS framework to regulate carbon markets in India. The National Steering Committee (NSC), led by the secretaries of Power and Environment, provides direct oversight of the Indian carbon market .
Role of Bureau of Energy Effic)
BEE will administer the carbon market, setting emission reduction targets, issuing carbon credit certificates, and accrediting carbon verification agencies .
Regulatory Bodies and Functions
- Tntroller of India Limited will act as the registry for the Indian carbon market.
- The Central Electricity Regulatory Commission will regulate trading activities .
The CCTS 2023 is an essential step in India’s climgy, helping to integrate domestic efforts with global initiatives for climate mitigation.
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Model Answer 1. Increased Financial Allocation The budget allocates ₹2.23 lakh crore for women-centric projects, marking a 2.12% increase from the previous year and a 30% rise compared to last year's Budget Estimates of ₹1.71 lakh crore. This substantial financial commitment underscores the governmeRead more
Model Answer
1. Increased Financial Allocation
The budget allocates ₹2.23 lakh crore for women-centric projects, marking a 2.12% increase from the previous year and a 30% rise compared to last year’s Budget Estimates of ₹1.71 lakh crore. This substantial financial commitment underscores the government’s focus on women’s empowerment as a key development agenda.
2. Enhancing Women’s Safety
A notable increase in funding for the ‘Safe City Project’ from ₹165 crores in 2022-23 to ₹1,300 crores in 2023-24 aims to improve safety for women in public spaces. This enhancement is crucial for encouraging women’s participation in economic activities and increasing the overall labor force participation rate.
3. Strengthening Property Rights
The budget also boosts the allocation for the Pradhan Mantri Awas Yojana by 66% to ₹79,000 crore, which will strengthen women’s property entitlements. Additionally, the introduction of differential tax rates for property registration is expected to improve women’s access to land and property, further empowering them economically.
4. Promoting Financial Independence
The Mahila Samman Savings Certificate scheme, offering up to ₹2 lakh for a two-year period at a fixed interest rate of 7.5%, is designed to foster financial independence among women. This initiative encourages savings and provides flexibility for partial withdrawals, which can be utilized for education and health needs.
5. Support for Self-Help Groups (SHGs)
The budget prioritizes the development of women-led self-help groups by providing them with essential resources such as raw materials, branding, and marketing support. This initiative aims to enhance rural income and promote financial independence among women.
6. Health and Well-being Initiatives
Increased funding for health-related schemes like Saksham Anganwadi, Poshan 2.0, and Mission Shakti will improve the quality of services available to women, particularly in areas such as sexual and reproductive healthcare and child health.
Conclusion
To maximize the impact of these initiatives, it is essential to establish a robust monitoring system to assess the effectiveness of budgetary allocations. Transparent auditing mechanisms should be implemented to enhance women’s participation in economic activities and improve their overall well-being. Each Ministry and Department should also develop a roadmap to address specific structural barriers faced by women, ensuring the effective utilization of funds aimed at achieving gender equality.
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