Costs of Climate Change in India report- GDP to reduce annually
London-based global think tank Overseas Development Institute published its report called “Costs of Climate change in India”. The report analyses economic costs of climate-related risks in country and possibility of increased inequality & poverty.
- As per report, climate change will affect India’s economy.
- India might lose about 3 to 10 percent of its GDP annually by 2100.
- Poverty rate may also rise by 3.5 per cent in 2040.
- India is already experiencing consequences of 1°C of global warming in the form of heavy rainfall. extreme heat waves, severe flooding, rising sea levels and catastrophic storms.GDP
- It observed, India has made rapid progress in boosting incomes and living standards in last three decades. However, if no rapid global action is taken, climate change may reverse development gains of recent decades.
- Climate change is slowing the pace of poverty reduction and increasing inequality in country.
- Even if temperatures are contained to two degrees Celsius, India is going to lose 2.6 percent GDP annually. If global temperature is contained to 3 degrees Celsius, loss will magnify to 13.4 percent annually.
Climate change will also affect labour productivity through additional channels such as increased incidence of endemic vector-borne diseases like dengue, malaria, chikungunya, Japanese encephalitis etc.
Month: Current Affairs - June, 2021
Category: Reports & Indexes Current Affairs
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