Mumbai: Emissions commitments pose medium-term risks BRIC (Brazil, Russia, India, China and South Africa) nations and energy shortages can create technology gaps and thus pose risks to medium-term growth and inflation, RBI Deputy Governor Michael Patra has said. .
The remarks come at a time when India has been under global pressure to reduce dependence on coal-fired power plants and cut emissions. Patra said this in his keynote address on ‘Growth and Growth in BRICS Economies’ organized by Delhi School of Economics.delhi stock market) And Indian Statistical Institute ,their), which was released by RBI on Monday.
“The medium-term challenges for BRICS arise in the context of climate risks and emissions commitments, which can lead to energy shortages, technology gaps and therefore pose risks to medium-term growth and inflation,” Patra said. , especially for countries with large total emissions,” Patra said. , He said the immediate challenge was inflated commodity prices for net importers such as India, although they provide terms of trade advantage for net exporters such as Brazil and Russia. “For all BRICS, inflation risk is exacerbated by rising food prices due to natural calamities and demand-supply imbalances due to pandemics,” Patra said.
The remarks come at a time when India has been under global pressure to reduce dependence on coal-fired power plants and cut emissions. Patra said this in his keynote address on ‘Growth and Growth in BRICS Economies’ organized by Delhi School of Economics.delhi stock market) And Indian Statistical Institute ,their), which was released by RBI on Monday.
“The medium-term challenges for BRICS arise in the context of climate risks and emissions commitments, which can lead to energy shortages, technology gaps and therefore pose risks to medium-term growth and inflation,” Patra said. , especially for countries with large total emissions,” Patra said. , He said the immediate challenge was inflated commodity prices for net importers such as India, although they provide terms of trade advantage for net exporters such as Brazil and Russia. “For all BRICS, inflation risk is exacerbated by rising food prices due to natural calamities and demand-supply imbalances due to pandemics,” Patra said.
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