Page 54 - DHC Budget Book 2021-22 Final

2020, earlier than the initial date for adoption in 2024. The cumulative issuance of global green bonds crossed US$ 1 trillion mark in 2020.
In its NDC, India has sought to reduce the emissions intensity of its GDP by 33 to 35 % below 2005 levels by the year 2030; achieve 40% of cumulative electric power installed capacity from non-fossil fuel sources by 2030; and enhance forest and tree cover to create additional carbon sink equivalent to 2.5 to 3 billion tons of carbon dioxide by 2030.
The effort of the International Solar Alliance in solar energy revolution is noteworthy and it has brought to culmination the ‘One Sun One World One Grid’ vision laid down by the Hon’ble Prime Minister of India. ISA organized the First World
Total services (excluding construction)
Trade, hotels, transport, communication and services related to broadcasting Financial, real estate and professional services
Public administration and other services
Source: Ministry of Statistics and Programme Implementation.
Solar Technology Summit (WSTS) in September 2020 with an objective of showcasing to member countries the state of the art and next generation solar technologies.
Service Sector
India is considered a hub for rendering services owing to its dynamic substantial youth population. Services sector’s significance in the Indian economy has been steady, with the sector now accounting for over 54 per cent of the economy and almost four-fifths of total FDI inflows (Figure 8). India’s Services sector witnessed a momentous contraction of 16% during the first half of the financial year 2020-21 on account of the pandemic mandated lockdown owing to its contact-intensive nature.
-11.4 -15.6
-8.1 -12.2
INDIA BUDGET 2021-22
Sector
Share in GVA (per cent)
Growth (per cent YoY)
2020-21 (AE)
2018-19 (1st RE)
2019-20 (PE)
2020-21 (AE)
2020-21 (H1)
2020-21
Q1
Q2
54.3
7.7
5.5
-8.8
-15.9
-20.6
15.4
7.7
3.6
-21.41
-31.5
-47.0
22.2
6.8
4.6
-0.82
-6.8
-5.3
16.7
9.4
10.0
-3.68
-11.3
-10.3
Note: Shares are in current prices and growth in constant 2011-12 prices; Re: Revised Estimates. PE: Provisional Estimates. AE: Advance Estimates
Figure 8: Services Sector Performance in India’s GVA
Despite the disruptions being witnessed globally, FDI inflows into India’s services sector grew robustly by 34 percent YoY during April-September 2020 to reach US$ 23.6 billion
Telecom related regulations were removed from the IT-BPO sector, and consumer protection regulations were introduced for e-commerce. India is home to 38 unicorns, adding a record number of 12 start- ups to the unicorn list last year.
Agriculture and Food Management
52 Building a Resilient and Confident India
India’s economy primarily relies on agricultural sector as evident from the fact that about 54.6
per cent of the total workforce in the country
is still engaged in agricultural and allied sector activities (Census 2011). The share of agriculture and allied sectors in the GVA of the country at current prices has increased from 16.5% in 2019-20 approximately 17.8 per cent of the country’s Gross