Importance and siginificance of green finance in india
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The impact of Green Revolution in India is favourable. Because of the Green Revolution production per hectare increased. Green Revolution in Wheat took place in Punjab, Hariyana, Uttar Pradesh, Rajasthan and other states of India. Wheat revolution also took place in West Bengal. Agricultural Revolution took place in other parts of India also. The overall development of agriculture during Five Year Plans is known as green revolution.
Agriculture plays an important role in the economic development of India.
After 1952-53 agriculture has been included in our national planning. Agriculture remains no more the earning of living of the farmers. Government, banks and other institutes, businessmen, industrialist have also taken interest for the development of agriculture.
Because of HYV seeds, fertilizers irrigation water, agricultural machinaries, pesticides, agricultural knowledge of the farmers have brought a remarkable change in the field of agriculture and India became self-sufficient in food-front. This remarkable change in agriculture is technically known as Green Revolution or Agricultural Revolution.
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<<<Why is Green Finance important?>>>
>>>Green Finance is important as it promotes and supports the flow of financial instruments and related services towards the development and implementation of sustainable business models, investments, trade, economic, environmental and social projects and policies. As the financial sector plays a key role through its intermediary functions and risk management in advancing sustainable economic development while directing investment to the real economy, the intertwinement of these two is crucial.
>>>Moreover, based on the lessons learned from the global financial crisis in 2006-2009, the availing of the global warming and the need for more sustainable business practices, Green Finance Initiatives have also been addressing the 2030 Sustainable Development Goals (SDG’s) Agenda by emphasizing the shift of focus from shareholders’ value creation (economic) to the generation of stakeholders’ value (economic, environmental and social).
>>>Green Finance represents the future of the financial sector through innovative financial mechanisms and by supporting the investments in projects with positive and sustainable externalities.