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Greening the South Asian Economy

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Submitted By saianurag
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Pages 33
South Asian Economic Students Meet 2012 | Agenda for Greening the South Asian Economy | Potential Energy Saving Capabilities of Emerging Cities: A Case of Hyderabad |

L. Sai Anurag
11/10/2012
|

Essay Proposal
Since gaining Independence, the Indian Subcontinent has been one of the most promising areas for development and has increasingly made its presence felt in the global economic scenario with rapid progress in both the manufacturing and the services sector. India is the second fastest growing economy in the world, with a GDP growth rate of 9.4 percent in the financial year 2006-07. However, due to the impact of the global recession the policy paralysis in the country growth rate had fallen to 5.3% in Q4 FY’12. Contraction is the manufacturing sector and the falling rupee has deteriorated India’s position further.
The resultant impact of the initial rapid GDP growth has been an increase in the per capita GDP and also an increase in the income levels of both rural and urban households. Achieving this growth also meant a tremendous rise in the use of energy across all the sectors of the economy as well albeit at a slower pace. The major point of concern here is not the magnitude of energy driving this growth but the quality and structure of this energy growth.
India has immensely contributed to the growth of the South Asian Economy by taking up economic reforms and giving a tremendous boost to industry. India’s favorable demographic mix, its abundance of educated and talented manpower, and among the youngest populations in the world, has further taken the economy to an enviable position. Due to this demographic dividend that India enjoys, it can play a very important role in fuelling the GDP growth of South Asian Economies and in turn the World GDP. In order to attain this, the need for energy is bound to increase

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