The volume 2 of the economic survey covers issues of topics
like Climate change, trade policy, Trans Pacific Partnership
and miscellaneous sectors.
Climate change and sustainable development:
Conference of Parties in Paris in December 2015 was
held to frame an agreement for post 2020 period for
countries to take action
against climate change. A new set of Sustainable Development
Goals [SDG] with 17 goals
with 169 targets were adopted in 2015 to replace
Millennium development goals.
These have to be achieved by the next 15 years.
adopted a self determined target of reducing emission
density of its GDP by
33% by 2030 compared to 2005 levels. Secondly to
install 40% of its installed
power capacity from non fossil based fuels. Create a
carbon sink of 3 billion
tones of CO2 equivalent by additional forest cover
highest polluter in terms of emissions and USA is highest
in terms of per
COP was of the UNFCCC [united nations framework convention
on climate change] and
it wanted an agreement to be followed by all countries
unlike the Kyoto
protocol. Here the bottom up approach was advocated with
each country asked to
determine its own emission reduction target.
but differentiated responsibilities: All
nations have to bear responsibility and work towards
determined contributions: parties are
required to provide their emission reduction targets and
update these every 5
The peak value of emissions should be
reached faster however this should be different for
developed and developing
countries. Developed countries were asked to support
developing countries for
implementation as this would help the developing countries
keep an increased reduction target.
To build resilience to climate change
and reduce vulnerability adaptation support would be
needed by developing
Developed countries should provide support
financially to developing countries for adaptation and
development and transfer: Collaborative
approach to research and development and access to
Information provided by all countries
shall be technically reviewed unlike Kyoto protocol where
provided data and it was
has launched a
International solar alliance – a platform of solar
energy rich countries to
collaborate and develop commonly agreed approach.
Fig 1: Paris COP
Global Climate Fund: UNFCCC has created it and it is
the largest fund
with pledged resources of $10 billion by developed
countries to developing. USA
is the highest pledged donor.
Global Environment facility: Setup in 1992 after the
biodiversity and climate
change conventions of Rio De Janeiro. It provides funds
for both Climate change
adaptation and mitigation
Trade Policy 2015 – 2020
to increase Indian
exports to $900 billion
from India scheme: notified exports to notified
from India scheme: incentives to service providers
sourced from Indian manufacturers the export
obligation is reduced to 75%.
paperless communications with committees of Director
of free trade.
for import / export are reduced to three and
electronic payments for
application fee now available.
customs clearance to promote fast trade
conference at Nairobi, Kenya [held for the first
time in an African nation].
The decisions taken were to move towards abolishing export
developed nations, public stockholding for food security
treatment to Less developed countries [LDC].
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Trans-Pacific Partnership and its implications for India:
could increase by $10 billion and exports by $5 billion if
India becomes a part
of the extended free trade agreement being considered by
Asia Pacific Economic
share to USA and Europe might shift to other TPP countries
like the textile and
apparel business to Vietnam.
Indian economy to services and trade is less compared to
TPP countries and
India will have to lower its tariff rates to be
would face severe competition if tariff barriers are
for achieving social and economic objectives and
generation will have to be removed.
rules shall affect generic medicine market of India.
countries to impose export restrictions on food shall
affect government during
shall become more stringent and increase cost of
shall be tightened to prevent subsidies to fishery sector.
Indian governments programs
Recent updates about the Trans Pacific Partnership
TPP was the largest trade pact and the most ambitious in terms of engagement. It was to be signed between US and 11 other Pacific rim nations and would have reduced tariff for trade between these nations. The impact of this would have felt to 800 million people in these 12 nations and would have benefitted around 40% of the world trade. A single market would have been created on the line of the European Union.
TPP was first agreed during the 2005 APEC summit and after painstaking negotiations would have become a reality. However the deal needs to be ratified by the US Congress to be implemented in US. However the withdrawal of the US shall make the pact less attractive.
The goods and services would have become cheaper as customs duties would have been removed. The members of TPP would have got greater access to each others markets. The goods of other countries would have become less competitive and so the TPP was highly beneficial.
However some studies had said that the TPP wouldn’t have benefitted larger , developed nations as manufacturing jobs would go to cheaper nations. The US was interested in this pact as it had the potential to increase the influence of US in the Pacific rim as a counter to China. The TPP would have ensured that the laws in force regarding labor, intellectual property rights and environment would be applied to all members of the TPP.
Thus the TPP would have standardised trade and manufacturing in these nations to US Standards. But now with the withdrawal of US, there is a need for another large economy to step and be a part of the pact. China seems to be interested in this and thus the withdrawal of US has given a chance to China to increase its influence in the Pacific rim region.
aims to make India free of open defecation by scientific
municipal solid waste in 4041 statutory towns of the
country by 2019.
development and augmentation Yojana [HRIDAY]: preserving
the soul and unique
qualities of heritage cities.
rejuvenation and transformation [AMRUT]: development
of basic urban
infrastructure in 500 cities. Cities with population of 10
lakh and above can
get 1/3rd of funding and rest can get ½ of the
funding. Other funds
have to be arranged by local governments or state
development of theme based tourism circuits. Pilgrimage
spirituality augmentation drive [PRASAD] for development
and beautification of
tourism sites. PRASAD targets dometic tourists with
religious sentiments and to
augment tourism infrastructure at tourist places.
for vaccination against 7 preventable diseases for all by
2020 viz. diphtheria,
whooping cough, tetanus, polio, TB, measles and hepatitis
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