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Context: In the backdrop of the 2070 carbon neutrality target set by India at the CoP26 in Glasgow, the Union Budget for 2022-23 has listed “climate action” and “energy transition” as one of the four priorities for the Amrit Kaal.
Climate related announcement in Budget 2022-23
How agriculture impact environment?
Paddy fields are anthropogenic sources of atmospheric nitrous oxide and methane, which have been reckoned as 273 and 80-83 times more powerful than carbon dioxide in driving temperature increase in 20 years’ (Sixth Assessment Report IPCC 2021).
Role of subsidies and procurement policies: The environmental damage caused by agriculture is largely a result of the various kinds of subsidies — on urea, canal irrigation and power for irrigation — as well as the minimum support prices (MSP) and procurement policies concentrated on a few states and largely on two crops, rice, and wheat.
Excess rice and wheat stock
Carbon tax: According to the IMF, the world needs a carbon tax of $ 75 per tonne by 2030 to reduce emissions to a level consistent with a 2 degree Celsius warming target.
Revisiting policies: The Economic Survey 2021-22 points out that the country is over-exploiting its ground water resource (see map), particularly in the northwest and some parts of south India.
By: Shubham Tiwari ProfileResourcesReport error
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