Development of Taxonomy for Climate Finance
The Economic Affairs Secretary has announced ongoing efforts to develop a taxonomy for climate finance, expected to be completed within six months.
- The Steel Ministry has already completed its sector-specific taxonomy.
- A comprehensive exercise is underway to cover all sectors, with a concept paper shared with stakeholders for feedback.
- Multiple committees have been established, each focusing on a different sector.
Finance Minister in the Union Budget 2024-25, proposed the development of this taxonomy to enhance capital availability for climate adaptation and mitigation, aiding in the country's green transition.
Government Fiscal Management
Government's prudent fiscal management may lead to softer government securities yields and increased funds for corporate investment.
- The borrowing for FY26 is projected to be less than the current year's plans.
- Net borrowings for the next financial year are estimated at ₹11.54 lakh crore, reflecting an anticipated improvement in tax collections.
- Gross market borrowings have been revised to ₹14.82 lakh crore, up from the current year's ₹14.01 lakh crore estimate.
