India’s Economic Evolution: Growth, Technology, and Infrastructure
India’s 78th Independence Day is celebrated on 15th August 2024 in memory of the hard struggles and sacrifices of many freedom fighters led by Mahatma Gandhi.
Krishna Raj
Professor, Institute for Social and Economic Change, Bengaluru
Realigning Economic Growth Strategies: A Critical Review and Path for Course Correction
What India wants is development that is sustainable and has nature & humanity at its core.
INDIA aspires to become a high-income, developed country (Viksit Bharat) by 2047. In pursuance of this comprehensive vision plan, the economy needs to wield phenomenal power to ratchet up the GDP growth rate and climb the commanding heights in 23 years from the current nominal GDP of $3.73 trillion to a whopping $30 trillion.
Building a Sustainable Future: A Call to Action
The United Nations climate change conference, COP28, has entered the final stretch. Negotiators are brainstorming on the future of fossil fuels. According to Ugandan climate activist Vanessa Nakate, “the success of COP28 will depend on leaders calling for a just and equitable phase-out of all fossil fuels without exceptions and distractions.” European Union climate commissioner Wopke Hoekstra has promised a big push on the issue.
Balancing Ambition and Reality: An Analysis of Net-Zero Emission Goals
Policymakers have failed to recognise the role of climate, forest and biodiversity in ensuring the welfare of people through sustainable development. This is obvious as the trajectory of greenhouse gas (GHG) emissions, led by fossil fuel production, is on the upswing despite the governments’ efforts to fulfil commitments to achieve net-zero emissions.
The Growing Duopoly in Indian Aviation
Recent developments in the Indian aviation sector are cause for concern, as the industry has virtually turned into a duopoly market. IndiGo and Air India have proven to be established players, while newer airlines have all but exited the aviation market owing to predatory pricing of flight tickets. The emerging duopoly market between IndiGo and Air India has meant the highest surge in airfare, which is a concern for air travellers.
Sustainable Environment & the Budget: Need for Consonance
The Union Budget 2023-24 is expected to be a barometer for the Central Government’s policy commitments toward the conservation of the environment and sustainable development. The public policy challenge for the government is how to strike a balance between economic growth and sustainable development, which are at variance due to the onslaught of climate change and its increasing economic costs. On the one hand, the government wants to achieve a $ 5 trillion economy by 2025 and $26 trillion by 2047; on the other, it has set a target of net-zero emissions by 2070. A balanced Budget that intertwines economic growth with inclusive and sustainable development for restoring the ecosystems is needed.