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Climate Change Is Top Threat to India's Economy, Modi Aide Says

  • Poor monsoon rains hurting farm incomes and causing distress
  • Creating jobs among other challenges for Modi-led government
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India's Sinha 'Confident' Can Meet Fiscal Deficit Goal

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Climate change is the top threat to the world’s fastest growing major economy as erratic monsoon rains cause distress in a sector that employs more than half of India’s billion-plus population, the country’s junior finance minister said.

"The number one risk we face is global climate change because we are still very dependent on the monsoon," Jayant Sinha, a Harvard Business School graduate who formerly worked with McKinsey, said in an interview. "The age-old patterns are changing, which is affecting our farming and creating a lot of agricultural distress."