Can Green Be a First-Best Development Solution for Developing Countries?
In this chapter, we examine India’s stumbling block to green growth— energy supply. By establishing the comparison between India and China, both with similar energy demands, we argue that regulation and inefficient government action, exacerbated by limited resources and growing population, severely hampered India’s economic development. We further examine India’s energy industry by giving a detailed look of the electricity deficit and potential policy solutions. We conclude from recent studies and on-the-ground projects suggest that energy efficiency programs and renewable energy could potentially provide a means to address the deficit in absolute, disruptive, and geographical terms at a lower cost than business as usual strategies. Although India has rather insufficient fossil fuel reserves and rapidly expanding economy, these unique circumstances may offer India a chance and an incentive to explore and derive economic gain from a variety of green growth strategies.
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