Climate change poses significant dangers due to its wide-ranging impacts on the environment, human health, and global economies. Rising global temperatures lead to more frequent and severe weather events, such as hurricanes, droughts, and heatwaves, causing extensive damage to infrastructure, displaRead more
Climate change poses significant dangers due to its wide-ranging impacts on the environment, human health, and global economies. Rising global temperatures lead to more frequent and severe weather events, such as hurricanes, droughts, and heatwaves, causing extensive damage to infrastructure, displacing populations, and disrupting food and water supplies. Melting polar ice caps and glaciers contribute to rising sea levels, threatening coastal communities with increased flooding and erosion.
Ecosystems and biodiversity are at risk as changing temperatures and weather patterns disrupt habitats, leading to species extinction and loss of biodiversity. This imbalance can have cascading effects on food chains and ecosystem services, vital for human survival.
Human health is directly impacted by climate change, with an increase in heat-related illnesses, respiratory problems from poor air quality, and the spread of vector-borne diseases like malaria and dengue fever. Additionally, climate change exacerbates social and economic inequalities, as vulnerable populations, particularly in developing countries, are less equipped to adapt to these changes.
Economic consequences include damage to agriculture, fisheries, and tourism industries, leading to loss of livelihoods and increased poverty. The cumulative effect of these changes threatens global stability, making climate change one of the most pressing challenges of our time. Urgent action is needed to mitigate these impacts and build resilient communities.
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Monetary Policy is a macroeconomic policy decision taken by the central bank to manage interest rate and money supply with the aim to meet various macroeconomic goals. These set of actions are of two types: expansionary or contractionary. Decreasing money supply and increasing interest rates indicatRead more
Monetary Policy is a macroeconomic policy decision taken by the central bank to manage interest rate and money supply with the aim to meet various macroeconomic goals. These set of actions are of two types: expansionary or contractionary. Decreasing money supply and increasing interest rates indicate a contractionary monetary policy. The opposite of this is an expansionary policy, which stimulates economic activity and accordingly affect employment and inflation. In India, the RBI uses a plethora of tools to implement the monetary policy. These include bank rate policy, credit control policy, open market operations, Statutory Liquidity Ratio, and Cash Reserve Ratio. The Main Liquidity Management Tool, Fine Tuning Operations, Marginal Standing Facility Rate, Liquidity Adjustment Facility, and Standing Deposit Facility Rate are other methods used by the central bank to achieve its macroeconomic goals. Each of these tools help the apex bank in bringing changes in the interest rate, or liquidity conditions in the market. For example, to spur economy, the RBI buys bonds through open market operations to boost liquidity and reduce interest rate. This is achieved through monetary policy. In India, the six-member Monetary Policy Committee, headed by the RBI Governor, meets once every quarter to decide on the policy.
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