1. 'Green Economy' In the Context of Indian Economy.
- Author
-
Dutta, Satrajit
- Subjects
SUSTAINABLE development ,INDIAN economy ,ECONOMIC development & the environment ,SUSTAINABILITY ,CLIMATE change prevention - Abstract
Across the world, Green Economy concept has been gaining ground and India is no exception. Green Economy is a development strategy which harmonises both economic development and ecological sustainability. Stated objectives of environment-friendly sustainable measures have, so far, largely not been met in developing countries due to overpowering need of basic development priorities, lack of fund flow from the developed world for mitigation and adaptation purposes, etc. India is facing the problem of co-existence of the conventional economic growth strategy and piecemeal efforts to make the economy ready to mitigate and adapt to the climate change issues. The present paper found that the existing production and consumption system can not make the development a really sustained and sustainable one. Adopting the multi-dimensional Green concept is going to have ripple effects on employment, trade, agriculture, domestic industries, business pattern, which, accordingly, require extensive fiscal reforms, vigilance on changing international trade relations and trade patterns, skill development, indigenous research and development for resource efficiency, political stewardship, public awareness, etc. Judicious inclusion of sustainability factor into the ongoing economic decisions for boosting infrastructure and manufacturing can set things rolling for putting the Indian economy on the Green Economy path. The paper is a descriptive analysis based on the available facts and figures, dotted with comparisons with other emerging countries to highlight the present status of India. While acknowledging the importance of development of strategies to adopt the principles of Green Economy in tune with stage of economic development, the paper points out the critical gaps and problems faced by India as well as their possible solutions. [ABSTRACT FROM AUTHOR]
- Published
- 2016