Roadmap for Answer Writing Introduction Start with a brief overview of India’s progress in key development indicators such as economic growth, women’s education, and fertility rates. Example fact: India’s GDP growth is among the highest globally (IMF estimate: 9% growth for FY22). Mention the ...
Model Answer Introduction India is at the crossroads of balancing economic growth and addressing climate change. According to a report by the Overseas Development Institute, climate change could result in a loss of 3-10% of India's GDP by 2100, with the poverty rate expected to rise by 3.5% by 2040.Read more
Model Answer
Introduction
India is at the crossroads of balancing economic growth and addressing climate change. According to a report by the Overseas Development Institute, climate change could result in a loss of 3-10% of India’s GDP by 2100, with the poverty rate expected to rise by 3.5% by 2040. A traditional approach to budgeting will not be sufficient to address the challenges posed by climate change. Thus, adopting a climate-responsive budget is crucial for India’s sustainable development.
Key Components of Climate-Responsive Budgeting
Climate-responsive budgeting involves integrating climate considerations into public expenditure planning. Tools such as climate tagging of budget lines, carbon pricing, and environmental cost-benefit analysis are used to evaluate how public spending can contribute to achieving national climate goals. More advanced techniques include assessing the fiscal sustainability impacts of climate-oriented policies.
Boosting Public Spending Effectiveness
- Spending on Social Infrastructure The Intergovernmental Panel on Climate Change (IPCC) emphasizes the importance of social infrastructure in climate mitigation. Budget allocation toward social infrastructure would enhance the adaptive capacity of vulnerable groups, improving their livelihoods, access to services, and overall resilience.
- Shifting Beyond GDP Metrics A climate-responsive budget shifts the focus from traditional GDP-based growth measurements to a broader, more inclusive view, incorporating environmental and social factors. This approach supports the integration of green metrics into national progress evaluations.
- Triggering Structural Reforms Achieving a low-emission, resilient economy will require structural reforms and fiscal policies that encourage sustainable investments. Government efforts should focus on sectors like energy, transport, and industry that are both carbon-intensive and essential for GDP growth.
- Low-Carbon Transition Sectors such as energy and transport are responsible for a significant portion of India’s emissions. A climate-responsive budget can finance low-carbon transition projects, helping India attract global climate finance and meet its international climate commitments.
- Disaster Resilience With increasing climate-induced disasters, a climate-responsive budget can focus more on prevention and mitigation rather than recovery. This proactive approach will reduce the financial strain caused by recurring natural disasters.
Conclusion
A climate-responsive budget is essential for India’s economic and environmental future. It not only signals the government’s commitment to climate goals but also fosters low-carbon transitions and long-term resilience, making India better equipped to face future climate challenges while promoting inclusive growth.
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Model Answer Unpaid Work: Indian women dedicate 8 times more hours to care work compared to men, which limits their participation in paid employment. This is one of the key factors contributing to the low FLFPR. (Source: 2019 Data) Lack of Care Infrastructure: Women's unpaid labor, including childcaRead more
Model Answer
Measures to Improve FLFPR in India
Conclusion
These measures, alongside collaborations between the government, private sector, and social organizations, can work towards increasing women’s participation in the workforce, ensuring better representation, and improving gender equality in the labor market.
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