Consider the following statements about National Adaptation Fund for Climate Change NAFCC 1 It is a ...........

Miscellaneous Others

Consider the following statements about National Adaptation Fund for Climate Change (NAFCC):

1. It is a Centrally Sponsored Scheme launched in the year 2011-12.

2. National Bank for Agriculture and Rural Development (NABARD) is the National Implementing Entity of NAFCC.

3. No separate budget allocation is provided for this fund, instead the government utilizes the funds available under various other schemes.

Which of the statements given above is/are correct?

1 and 2 only

2 and 3 only

2 only

1 only

Explanation:

Option c is the correct answer.
Statement 1 is incorrect. The National Adaptation Fund for Climate Change (NAFCC) was established in 2015–16 as a Central Sector Scheme. NAFCC's primary goal is to encourage practical adaptation initiatives that lessen the harmful effects of climate change.
Statement 2 is correct. National Bank for Agriculture and Rural Development (NABARD) has been chosen as the National Implementing Entity (NIE) for carrying out adaptation projects under NAFCC. It is due to the fact that there is an existing arrangement with NABARD as National Implementing Entity (NIE) for Adaptation Fund (AF) under Kyoto Protocol and its presence throughout the country.
Statement 3 is incorrect. Government of India provides budgetary allocations to the NAFCC annually. In recent years there have been concerns about the declining amounts of the budgetary allocations to the NAFCC. The government allotted INR 350 crore in FY16, and INR 60 crore assigned in Budget 2022.