Note ban to lower growth in 2016-17: Assocham
Banning of high value notes would lower growth rate due to economic slowdown in the third and fourth quarters of…
The government will have to reduce dependence on coal-based power and work on climate friendly transport and urban planning to comply with its international obligations, industry body Assocham on Monday said.
"India may have succeeded in getting the December 2016 deadline for ratification of Paris agreement on climate change, New Delhi would have to reduce dependence on coal fired electricity and work on climate friendly transport and urban planning, sooner than later, to comply with its international obligations," it said in a report.
According to the paper on ‘Implications for Paris Climate Agreement’, the commitments to mitigate the CO2 emissions may even go beyond 1.5 degree Celsius.
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It said India is now taken more as a part of the solution than a problem, which implies that there are more obligations on the country which, however, needs to meet its fast growing energy requirements in sync with its status of the fastest expanding economy of the world.
"As a leading voice of the emerging economies, India must keep up the pressure on the rich nations to fulfill their obligations for contributing USD 100 billion for technology development and transfer to reduce the global emission," it added.
While the Paris agreement is legally binding on the signatory countries under the UN framework pact, there are no consequences if commitments are not breached, it said adding "India would not like to fall in the category of nations not fulfilling its obligations
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