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Discuss the need and benefits of imposing ecotax as part of environmental fiscal reforms in India.

Topic: Achievements of Indians in science & technology; indigenization of technology and developing new technology.

6. Discuss the need and benefits of imposing ecotax as part of environmental fiscal reforms in India. (250 words)

Reference:  The Hindu

Why the question:

The article brings to us discussion on ecotax and its importance.

Key Demand of the question:

Discuss the need and benefits of imposing ecotax as part of environmental fiscal reforms in India.

Directive:

Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction:

Start with what you understand by ecotax.

Body:

The answer body must explain in what way environmental fiscal reforms will reduce pollution and generate resources for financing the health sector.

The Indian government announced a pandemic-related stimulus package in FY 2020-21 though there was large decline in tax revenue. The fiscal deficit for FY 2020-21 (revised estimates) is projected to be 9.5% of the GDP; for 2021-22, it is pegged at 6.8%. The focus is on maintaining fiscal discipline. In this peculiar scenario, sustained health financing in India remains a challenge.

Explain in detail the need and benefits of imposing ecotax as part of environmental fiscal reforms in India.

Conclusion:

Conclude with way forward.