GST, Demonetisation help India to record Lower Carbon dixoxide Emissions

New Delhi Nov 13: India stood no 4 in the greenhouse gas emissions for the year 2017, thanks to the demonetisation and GST.

2017 Global Carbon Budget report was published in the journals Nature Climate Change, Environmental Research Letters, and Earth System Science Data Discussions on Monday.

The reports states that India's emissions in 2017 is projected to rise, this increase is likely to be only 2 percent over last year and in the last one decade, India's greenhouse gas emissions have increased on an average of almost six percent every year.Last year, India’s emissions had grown by 6.7 percent.

The report adds that "although India's installed solar capacity almost doubled in 2016 to 12 GW (gigawatts), the reduction in this year's growth is attributable to many factors, including reduced exports, a declining share of industrial and agricultural production in GDP, reduced consumer demand, and both a sudden fall in money circulation attributable to demonetisation late in 2016 and a goods and services tax introduced in 2017".

The report projected that the global greenhouse gas emissions in 2017 from fossil fuels and industrial use to be 36.8 GT of CO2 equivalent and India's greenhouse gas emissions from fossil fuels and industrial use would likely be 2.5 gigatons (Gt) of carbon dioxide equivalent.