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214 Economic Survey 2020-21 Volume 1

crores for the 12 Five Year Plan. This scheme has continued beyond the 12th Five Year Plan till
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31 March 2020 with a financial implication of ` 364 crores. The aim of NAPCC is to support
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concrete adaptation activities which are not covered under on-going activities through the
schemes of State/UT and National Governments. Till September 2020, 30 projects (including
two multi state regional projects) worth ` 847.5 crores have been approved by NAFCC. These
projects are at different stages of implementation in 27 states in agriculture, water, forestry,
urban, coastal sectors, marine system, etc.

6.18 The Government is implementing Faster Adoption and Manufacturing of (Hybrid&)
Electric Vehicle in India (FAME India) scheme w.e.f 1st April, 2015 to encourage progressive
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induction of reliable, affordable and efficient electric and hybrid vehicles. The Phase-I of the
Scheme was extended from time to time and the last extension was allowed till 31st March,
2019. Based on outcome and experience gained during the Phase-I of FAME India Scheme
and after having consultations with all stakeholders including industry and industry associa-
tions, the Government notified Phase-II of FAME India Scheme on 8 March, 2019, which is
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for a period of three years commencing from 1 April, 2019 with a total budgetary support of
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`10,000 crore. This phase aims to generate demand by way of supporting 7000 electric buses
(e-bus), 5 lakh electric three wheelers (e-3W), 55000 electric four wheeler passenger cars (in-
cluding strong hybrid) (e-4W)and 10 lakh electric two wheelers (e-2W).

India’s NDC and its forthcoming challenges

6.19 India has recognized that its path of development must be one which places adequate
emphasis on all the three pillars of sustainable development, namely, economic, social and
environmental. A great deal of stress is also being laid upon the inter-generational equity in
regard to the emerging climate actions proposed to be taken by the present generation. However,
the imperatives of the intra-generational equity, i.e., eradication of poverty and equitable social
and economic development cannot be brushed aside. The implementation of the climate targets
is intertwined with global and national economic scenario.

6.20 The national circumstances demand that the first priority for India be adaptation, being a
country highly vulnerable to extreme weather events. Climate change impacts are expected to
worsen with the passage of time because of the momentum due to carbon stock continuing to
increase the temperature. Hence, India’s adaptation efforts will have to be further intensified
and with that the adaptation costs will increase. The country is relying on domestic resources
to implement adaptation and mitigation action on mission mode. The financing considerations
will therefore remain critical especially as the country steps up the targets substantially. With
the COVID-19 pandemic, the primary focus of the country is on ensuring protection of lives and
livelihoods. Even so climate action remains a priority.

6.21 The implementation of NDC effectively commences on 01.01.2021. India’s NDC
clearly states that finance is a critical enabler of climate change action. The preliminary
financial estimates in NDC document indicates that India would need around US$ 206 billion

https://fame2.heavyindustry.gov.in/
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