Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Home-page / Green intentions
BackBack

Green intentions

Green intentions

Premium

India now has a national action plan for climate change. Prime Minister Manmohan Singh unveiled it on Monday, almost a year since preliminary work on the plan began.

The two core ideas in the plan—to move from fossil fuels to renewables and to increase energy efficiency— are sound. But there is little clarity on how this is to be done. Do we need a climate czar, as one writer suggested in this newspaper on Friday.

Such details matter. India will also have to manage the effects of climate change. In that sense, the very act of coming out with a plan is a welcome signal about the government’s intent.

But a national plan will have its limitations. More work needs to be done at two other levels. One, the price mechanism should play a role, through cuts in fuel subsidies and taxes on carbon emissions. Two, there is no escaping the fact that climate change is a global problem; and India needs to be part of a global deal, without sacrificing growth or national interest.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 01 Jul 2008, 12:36 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App