FM: India climate action funding is 5.6% of GDP

FINANCE MINISTER NIRMALA Sitharaman on Saturday said India has hiked spending on climate action in the last six years to 5.6% of GDP, demonstrating the country's pursuit of meeting nationally determined goals on curbing carbon emission.

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Participating in a panel discussion at the Munich Security Conference, she said India has increased its commitment to climate action.

“Six years ago, we were spending approximately 3.7% of our GDP on climate action. Today, that figure is close to 5.6%. We have invested the funds. We are not waiting for financing and technology to come from elsewhere but they must come,” she said.