The Economy of Russia: Implications for the Civil Services Exam 2026 Russia's economy is a complex tapestry shaped by its vast natural resources, historical legacies, and contemporary geopolitical dynamics. As candidates prepare for the Civil Services Exam 2026, understanding the intricacies of Russia's economic structure, its challenges, and its global impact is crucial. This article delves into key aspects of the Russian economy and how they relate to broader international contexts. Overview of the Russian Economy Russia is the world's largest country by land area and possesses an abundance of natural resources, notably oil, natural gas, and minerals. The economy is characterized by a mix of state control and market mechanisms, with the government playing a significant role in key sectors. #### Key Sectors 1. **Energy Sector**: - Russia is one of the leading producers of oil and natural gas, with state-owned companies like Gazprom and Rosneft dominating the market. ...
Change in Life Style and Livelihood Security required to Deal with Problem of Climate Change
At the Inaugural Address at the Workshop on Climate Change Financing on Jan13, Shri R.Gopalan, Secretary, Department of Economic Affairs, Ministry of Finance said that in order to deal with the issue of Climate change and with the consequences, we will need not only enormous resources but also changes in our lifestyle especially among the better –off and livelihood security for the less well off.
The workshop was jointly organized by the Climate Change Finance Unit of the Department of Economic Affairs, Ministry of Finance along with United Nations Development Programme (UNDP).
The inauguration of the Workshop was also attended by
- Mr Patrice Coeur-Bizot, UN Resident Coordinator and UNDP Resident Representative,
- Dr Kaushik Basu, Chief Economic Adviser(CEA), Ministry of Finance,
- Shri J.M Mauskar, Special Secretary, Ministry of Environment and Forest, Government of India and Dr Dipak Dasgupta, Principal Economic Advisor, Ministry of Finance among others .
Speaking on the occasion, Dr Kaushik Basu, Chief Economic Adviser, Ministry of Finance said that the problem of global commons has been around not just today, but also earlier. The challenge is for building knowledge and cooperative institutions, he added.
Judiciously placed, at the brink of launching India’s 12th Five Year Plan and post Durban Conference, this workshop marked the second initiative of the recently set-up Climate Change Finance Unit in the Department of Economic Affairs, Ministry of Finance in bringing together policy makers.
The consultations would provide important inputs for the chapter focused on Climate Change in the forthcoming Economic Survey of India, as for the first time ever, an entire chapter would be devoted on this subject.
The sessions focused on :
- National priorities for addressing climate change,
- The role of private sector in generating funds to enable a lower carbon trajectory; and the role of the state and
- Civil society in ensuring equitable and sustainable outcomes that do not pass on mitigation and adaptation costs to vulnerable communities.
A key outcome of the workshop was better understanding of the financial issues related to climate change, at the domestic and the international level.
Shri Mauskar, Special Secretary, Ministry of Environment and Forests explained that India will encounter high cost in taking necessary steps for climate change mitigation and adaptation. He said that some financial mechanisms may enable mitigation costs to be borne by the private sector but this will be eventually passed on to the consumers. However the cost of adaptation needs to be borne entirely by public finances, making global financial transfers (grants, low interest loans) highly relevant, he added.
Participating in the scientific frontiers session, Dr R.K.Pachauri, Director General,TERI as well as Dr B.Mungekar, Member of Parliament(Rajya Sabha) stressed the key issues of equity and using knowledge to deal with climate change.
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SimpleCSAT.com Desk