Currency And Finance Report : RBI
The Reserve Bank of India (RBI) has released a report on currency and finance for the financial year (FY) 2022-23.
- The theme of the report is ‘Towards a Greener Cleaner India,’ which reflects India’s focus on reducing carbon emissions and promoting sustainable
- The report highlights that India has embarked on a targeted and time-bound climate action plan, and currently ranks the best amongst G-20 countries as per the Climate Change Performance Index, 2023.
- India’s net-zero target year is 2070,
- The report addresses four key aspects of climate change, encompassing its exceptional size and rapidity, macroeconomic impacts, financial stability implications, and strategies to reduce climate risks.
- For India to further achieve its net zero target by 2070, the RBI said, the country would require an accelerated reduction in the energy intensity of GDP by around 5 percent annually and a significant improvement in its energy mix in favour of renewables to around 80 percent by 2070-71.