India’s pledge to achieve net-zero carbon emissions by 2070 calls for a framework that balances growth with sustainability. In order to reach the prospects of net-zero emissions by our country in the upcoming time period of the century, the article aspects its smoothing on carbon emission outlays in the short to medium term, which is the time frame that matters to policymakers at climate mitigation measures. It examines a comprehensive set of policy frameworks that includes public investment in green projects and subsidies for the development of renewable energy as a first green fiscal stimulus to go along with carbon pricing. Certain model simulations suggest that a comprehensive policy package can enhance the overall output of the low-carbon transition compared to the baseline, largely due to increased green civic investment. Even if carbon emissions continue to rise in the short term, the associated transitional output costs are expected to remain modest. Previous research highlights that upfront green fiscal measures can accelerate the shift toward a low-carbon economy by stimulating innovation, creating jobs, and strengthening resilience. Such fiscal interventions not only help to control carbon emissions but also guide the environment onto a more sustainable and greener trajectory, ensuring that climate action contributes to long-term economic growth and stability. Progress toward partial net-zero requires scaling renewable energy sources such as solar, wind, hydro, and green hydrogen to reduce coal reliance, while advancing energy efficiency across sectors. Introducing carbon pricing mechanisms will internalize environmental costs and incentivize cleaner production, supported by investment in green technologies like carbon capture, advanced storage, and smart grids. Expanding afforestation and carbon sinks alongside sustainable infrastructure development in transport and urban planning will strengthen resilience. Collectively, such measures establish a coherent pathway for India to achieve partial net-zero outcomes and lay the foundation for its long-term climate neutrality target.
Gothwal et al. (Sat,) studied this question.