The Principles, Strategies for Green Economy in India: An Overview

  • Mallikarjun Gadad Research Scholar, Department of Economics, Kuvempu University, Jnanasahyadri Shankarghatta, Shivamogga, Karnataka, India https://orcid.org/0009-0005-0531-6279
  • M Ravi Kumar Research Scholar, Department of PG Studies and Research in Economics, Kuvempu University, Jnanasahyadri, Shankaraghatta, Shivamogga, Karnataka, India
Keywords: Green Economy, Sustainable Development, Status, Features, Benefits, Strategies, Principles, Government Initiatives

Abstract

Creating a green economy is now a top objective for sustainable development across the globe. Employment opportunities and improved living conditions have resulted from India’s rapid economic growth over the last decade. The growth of urban areas is a global phenomenon, particularly in developing countries like India. By 2030, cities are expected to be home to 60 percent of the world’s population, according the United Nations. Ninety percent of the world’s rural population resides in Asia. Nonetheless, urbanisation is on the rise and is projected to reach 56% by the year 2050. The Green Economy may improve employment opportunities, GDP growth, resource conservation, social cohesion, and disaster preparedness. Green economics provide cause for optimism in the face of climate change and unsustainable economic expansion. A green economy has gained favour as a solution to global warming, biodiversity loss, and unsustainable economic expansion in recent years. Can you define “green economy” for me? Forests, water, soil, and fish supplies are all examples of natural capital that are valued and invested in by a green economy in order to assure long-term growth and eradicate poverty. It requires redirecting public and private investments towards natural capital and emerging sectors and technology, with the help of supportive policy shifts and enabling conditions. There is no such thing as a “trade-off” between progress in the economy and protection of the environment. Growth, income, and employment are all bolstered by a green economy.

Published
2023-12-01
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How to Cite
Gadad, M., & Ravi Kumar, M. (2023). The Principles, Strategies for Green Economy in India: An Overview. Shanlax International Journal of Economics, 12(1), 64-68. https://doi.org/10.34293/economics.v12i1.6783
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Articles