The Green Climate Fund (GCF) is a multilateral fund created to support the efforts of
      developing countries to respond to the challenge of climate change. GCF launched its initial
      resource mobilization in 2014, and mobilized resources worth USD 10.3 billion. So far, 43
      projects have been approved by the Board of the GCF. India also has one project approved by the
      Board with NABARD on “Ground water recharge and Solar Micro Irrigation to ensure food
      security and enhance resilience in vulnerable tribal areas of Odisha” from 16th GCF Board
      meeting. The project is approved with an outlay of USD 166.29 million including GCF grant
      support of USD 34.357 million whereas other financial resources would be provided by
      Government of Odisha and World Bank.
      Foreign Exchange Reserves
            India’s foreign exchange reserves comprise foreign currency assets (FCAs), gold, SDRs and
      reserve tranche position (RTP) in the IMF. Accretion to foreign exchange reserves is the
      outcome of absorption of excess of capital flows balance over the current account financing
      needs and valuation gain/loss. In the recent past, trade deficit witnessed moderation, reflecting
      the impact of lower crude oil prices, among others. The level of foreign exchange reserves
      particularly foreign currency assets is largely the outcome of Reserve Bank of India’s
      intervention in the foreign exchange market to stabilise the rupee value. Foreign Exchange
      Reserves stood at US $ 421.7 billion by February 2018 as against US $ 370 billion at end-March
      2017. The current position is at a comfortable level to cushion the exchange rate volatility from
      any international macroeconomic uncertainty.
      Exchange Rate of Rupee
            During 2017-18 (April-January), the average monthly exchange rate of rupee (RBI’s
      reference rate) varied between ₹ 65.08 per US dollar in October 2017 and ₹ 63.64 per US dollar
      in January 2018.
      External Debt
            External debt stock stood at US$ 495.7 billion at end September 2017 recording an increase
      of US $ 23.9 billion over the level at end-March 2017. The maturity profile of the external debt
      indicates dominance of long-term borrowings. At end-September 2017, long-term external debt
      was US $ 403 billion witnessing an increase of 5 per cent over March-end 2017 level of US $
      383.8 billion. India’s foreign exchange reserves provided a cover of 80.7 per cent to the external
      debt stock at end-September 2017. The external debt management policy of the government
      emphasizes monitoring of long and short-term debt, raising sovereign loans on concessional
      terms with longer maturities, regulating external commercial borrowings through various
      restrictions and rationalizing interest rates on Non-Resident Indian (NRI) deposits. As a result,
      external debt has remained within manageable limits.
      Social Infrastructure, Employment and Human Development
            Investment in human capital like education and health are key ingredients for economic
      development. Much of the impoverishment in the country today can be addressed by enhancing
      the human capital through investments in nutrition, health, education and by providing
      appropriate skills for employment. Though India’s social policies have focussed on the welfare
      of the people and also human development, challenges remain in overcoming social and
      economic barriers to advance the capabilities of the marginalised, women and other weaker