India takes fiscal steps for better environmental results: FM at G20 meet

Finance Minister Nirmala Sitharaman has said that in India, fiscal policy measures are being taken to get better environmental outcomes.

In her address at the G20 High-Level Tax Symposium on Tax Policy and Climate Change, ahead of the third G20 Finance Ministers & Central Bank Governors Meeting, she also said that concessional tax rates are in place in India to promote use of renewables.

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In a series of tweets, the Ministry of Finance said that the minister shared India's innovative policy mix for better environmental outcomes such as new energy map of India, digital innovation and emerging fuels, international solar alliance for enabling clean energy, and promotion of energy efficiency and afforestation.

Sitharaman also emphasised on the role of technology in fighting climate change and called for international cooperation to increase supply of alternative sources of energy and technologies for adaptation.

The third meeting of G20 Finance Ministers and Central Bank Governors is scheduled on July 9 and 10, under the Italian G20 presidency. This will be the first in-person Finance Track meeting since February 2020.