Role of Renewable Energy Sources in Combating Climate Change Environmentally Friendly: Renewable energy sources like wind and solar produce minimal carbon emissions and decrease reliance on finite fossil fuels. Pollution Reduction: Shifting to renewables curbs pollutants like SO₂ and NOx, improvingRead more
Role of Renewable Energy Sources in Combating Climate Change
- Environmentally Friendly:
Renewable energy sources like wind and solar produce minimal carbon emissions and decrease reliance on finite fossil fuels.
- Pollution Reduction:
Shifting to renewables curbs pollutants like SO₂ and NOx, improving air quality and conserving water.
- Land Reuse:
Former coal mining sites can be repurposed for renewable energy or reforestation.
Opportunities Associated with Transitioning
- Energy Independence:
- Reduces reliance on fossil fuel imports and shields countries from geopolitical and market shocks.
- Economic Growth:
- Diversifies economies, promotes inclusive growth, and reduces poverty by eliminating import duties and price fluctuations.
- Leadership in Renewable Energy:
- Fossil fuel-dependent countries can lead in renewable energy generation.
- Innovative Land Use:
- Solar panels can be installed on barren lands or above canals, to prevent excessive evaporation, for dual benefits.
- Improved Working Conditions:
- Reduces health risks associated with fossil fuel extraction, and generates a cleaner work environment.
Challenges
- Skilled Workforce:
- Requires time and investment for training.
- High Initial Costs:
- Developing economies may struggle with the upfront costs.
- Job Transition:
- Replacing fossil fuel jobs, linked to extraction and transportation, with new opportunities can be challenging.
- Variability in resource availability (e.g., wind and sunlight) and environmental impacts from production and disposal (e.g., solar panel manufacturing).
- Initial manufacturing processes can involve pollution, and there are challenges in managing waste from end-of-life equipment.
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Indian economic conditions have changed very widely since its departure in the year 1947 from Britain. Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agricultureRead more
Indian economic conditions have changed very widely since its departure in the year 1947 from Britain.
Summary De-industrialization to Industrial Growth: A Colonial Legacy This British rule completely de-industrialized India which concentrated more and more on material extraction and its agriculture production primarily for British colonies. Indian industry was not so well.
Post-Independence: India took to planned economic development where the emphasis is placed on the growth of the industries. It has provided opportunities for building up public sector undertakings also for the establishment of heavy industries.
Agrarian Reforms:
Land Reforms: This area underwent reforms with a plan to right the imbalances brought about because of land holding inequality and land getting into the hands of such poor farmers who have none.
Green Revolution: The green revolution of the 1960s and 1970s increased productivity in agriculture but created side effects related to environmental issues and reliance on chemical fertilizers.
Economic Liberalization:
1991 Reforms: India implemented the most important economic liberalizations in 1991. The Indian economy was opened up to foreign investment; government control would reduce and privatization at various levels would be promoted.
This led to economic growth with increased income inequalities and social effects.
Problems
Poverty and Inequality: Issues of poverty and inequality remain even after economic growth has been achieved.
Unemployment: Youth unemployment is extremely high and thus a big issue.
Infrastructure Development: It has improved but remains woeful in many aspects of infrastructural development, especially in the rural region.
Recent Trends:
See less-Heavy attention on Digital Economy: India is heavily focusing on digital economy with initiatives like “Digital India,” which focuses on making the country digitally literate and innovative.
-Rise of Service Sectors: It has emerged to be the most important sector showing an acceleration trend of the economic growth within India and among those sectors, it has been IT and IT-enabled services which have been the single most effective drivers.