New Delhi, Jan 31 (Representative) The Economic Survey 2025, presented by Finance Minister Nirmala Sitharaman in Parliament on Friday, underscored India’s commitment to achieving net-zero emissions by 2070, with a focus on innovative strategies and robust implementation plans to tackle climate change while ensuring sustainable development.The survey said, “This long-term goal is entwined with the country’s aspirationsfor high and stable economic growth, which envisions becoming a developed nationby 2047.” Achieving this vision requires a delicate balance, as India strives for low-carbon development while meeting crucial imperatives like affordable energy security, job creation, sustained economic expansion, and environmental sustainability, the Survey underscored emphasising that to navigate this challenge, India is adopting a holistic approach that integrates both mitigation and adaptation strategies into its growth plans. Adaptation to climate change is also a pressing concern. The Survey revealed that between FY16 and FY22, India increased its adaptation expenditures from 3.7% to 5.6% of GDP, reflecting the growing importance of building climate resilience. India’s vulnerability to climate change makes it essential for the country to implement a robust adaptation strategy to protect vulnerable communities and ecosystems. The Survey further stressed that given the backdrop of decreasing global financial commitments to support climate action in developing countries, India must increasingly prioritise building resilience to safeguard the benefits of its rapid economic growth against climate-induced setbacks. The country requires a multidimensional approach that encompasses a variety of initiatives, including the creation of appropriate policy incentives, the development of resilient infrastructure, research and development(R&D) in climate-related technologies, and mobilising financial resources dedicated toadaptation initiatives.
Despite being one of the world’s lowest greenhouse gas emitters per capita, Indiahas made notable strides in reducing the emissions intensity of its energy consumption, the Survey highlighted adding, “This progress is largely due to the increased deployment of renewable energy sources alongside a suite of energy conservation measures.” Mentioning that the growth of renewable energy faces substantial hurdles, particularly in energy storage technologies and the sourcing of critical minerals necessary for this transition, the Survey added that the alternative solutions such as green hydrogen present a viable option for the medium term, affordability issuesremain a significant barrier to widespread adoption. The advancement and deployment of low-emission thermal power technologies,including Advanced Ultra Super Critical (AUSC) power plants, will play a pivotal role in this transition,” the Survey highlighted. Investments in research and development related to battery storage technologies,as well as the recycling and sustainable disposal of waste associated with renewable energy systems, are critical factors in ensuring a reliable supply of energy from renewable sources and its sustainability, it said. The mission mode approach to developingcarbon capture, utilization, and storage technology is essential for the continued useand enhancement of thermal power plants in the medium term. In the agriculturalsector, developing climate-resilient seeds and improving agricultural practices, whichmay include the rejuvenation of water bodies, will be vital components in buildingresilience against climate impacts. The Survey also outlined India’s Lifestyle for Environment (LiFE) initiative. Designed to encourage sustainable living and promote a circular economy, the initiative aims to create a transformative impact on the nation’s development trajectory. LiFE will be central to fostering an environment-friendly culture across sectors, reducing the carbon footprint, and enhancing resource efficiency. To strengthen its renewable energy initiatives, India must prioritise investment inextensive grid infrastructure improvements and the secure sourcing of critical mineralsnecessary for this transformative shift, it said.