The Energy and Resources Institute (TERI) released a discussion paper on ‘A Fiscally Responsible Green Stimulus‘ to revive Indian economy by creating demand and jobs with policy and regulatory interventions using minimal government spending.
The paper suggests six focus areas that can accelerate growth of renewable energy and improve air quality in India.
Speaking at the launch of discussion paper, Dr Ajay Mathur, Director General, TERI, said, “The focus of India’s stimulus packages has been on enhancing credit availability in the agricultural and small and medium enterprises (SME) sectors so as to stimulate economic growth and create sustainable jobs. We suggest that policy and regulatory measures are used to create demand which can pull private investment into green options – this will make the green economy commercially viable, and accelerate economic growth, job creation and the environmental transition.”
Endorsing the recommendations of the paper, Mr Simon J. Stolp, Country Lead (India), Energy and Extractives at the World Bank Group, said, “This green stimulus is pragmatic. It has a demand-driven approach. Governments across the world are not in a strong fiscal position, so there is a need to bring in private sector to reduce the burden on public resources. This discussion paper taps the potential of short-term job growth, balancing it well with the long term goals of climate change and the decarbonisation agenda.”
You can see the discussion paper on the TERI website by clicking here.