India just did something big for the climate: it announced that it will allocate $6 billion a year in tax revenue in a way that will encourage forest conservation. That’s more results-based finance for forest conservation than any other country in the world, including the current biggest spender Norway.
CGD Policy Blogs
The fiscal relationship between the Central and State governments in India has just been radically transformed. As far as intergovernmental transfers are concerned, the 14th Finance Commission report will have wide-ranging implications for India and lessons for other large federal countries around the world. Here’s why: