Climatic Changes in the Indian Economy

Context:

Climate change damages the economy, and in 2022 it recorded a loss of 8% of the GDP. The Asian Development Bank has projected loss amounts to almost 25% by the year 2070.

Key Highlights:

• The planet would experience a global average temperature between 1.29°C and 1.53°C that year, with an average increase of 1.41°C.
• The farm sector contributes nearly 18% in terms of GDP and is probably the most impacted by extreme weather events.

India Green Energy Milestone