Greening of Fiscal Policy in India

Lekha Chakraborty (), Ajay Narayan Jha, Jitesh Yadav, Amandeep Kaur and B. Balamuraly
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Lekha Chakraborty: National Institute of Public Finance and Policy
Ajay Narayan Jha: Sixteenth Finance Commission
Amandeep Kaur: National Institute of Public Finance and Policy

A chapter in India's Public Finance and Policy Challenges in the 2020s, 2025, pp 435-445 from Springer

Abstract: Abstract Against the backdrop of COP28, the paper examines the fiscal allocations for the green economy in India across sectors for adaptation and its budget credibility. There is a significant deviation between what is announced and what is realized in green budgets across sectors. Using detailed demand for Grants data, the paper analyses the sources of errors and partitions the errors into random or biased. Although the forecasting errors related to green economy allocations are predominantly due to random factors, there are sectors in which the errors are due to policy bias. Revisiting the assumptions and forecasting models are significant to minimize such errors.

Keywords: Climate change; Fiscal policy; Green economy; COP28; Sources of errors; Forecasting errors (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-96-2860-5_24

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DOI: 10.1007/978-981-96-2860-5_24

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