Public Policy

Impact of Climatic Conditions on GDP

A one degree Celsius increase in daily mean temperatures would on an average decrease agricultural output by 11% in India. The overall GDP, as a result, would reduce by 28%, making the 8% per annum GDP growth rate a pipedream. The consequences of climate change could be devastating, if policy makers continue to ignore it. Agricultural output would fall resulting in food shortages and inflationary pressures in the years to come.

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Crop Diversification to Reduce Exposure to Climatic Changes: Associated Risks and Mitigation Strategies

Lack of well-developed supply chain systems for alternative crops expose farmers to considerable risk, making it difficult for them to move away from the paddy/wheat crop rotation cycle. Public policy interventions and supply chain innovations such as targeted insurance products, pooling practices, investments in skill development, entrepreneurial models for service provision, market-side initiatives and a better understanding of supply chain risks are needed to enable farmers to adopt crop diversification.

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