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Source: The post India’s strong economic growth, focusing on renewable energy, digital technology, and female empowerment has been created, based on the article “Lessons from India’s alternate development plan” published in “Indian express” on 17th April 2024.
UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Growth, development and employment.
News: The article discusses India’s strong economic growth, focusing on renewable energy, digital technology, and female empowerment. It highlights India’s success in these areas and the potential to use these strategies in other developing countries. The World Bank supports these efforts, helping to expand and replicate them globally.
How is India advancing in renewable energy?
Renewable Power Capacity: Renewable sources account for 42% of India’s total power generation capacity.
Investment in Renewables: Annually, about $10 billion is invested in renewable energy sectors.
Global Standing: India ranks as the world’s fourth largest renewable energy market.
Solar Manufacturing: It holds 3% of global solar manufacturing capabilities.
World Bank Support: The World Bank has invested approximately $1 billion in India’s solar projects, notably in solar parks and rooftop solar installations, stimulating substantial commercial investment in the sector.
What innovations are occurring in digital infrastructure?
Digital Public Infrastructure (DPI): Facilitates millions in accessing social safety nets, banking, and government services digitally, reducing the need for in-person interactions.
Efficiency in Payments: The implementation of digital payments has shortened the payout time for maternal health programs by 43%.
Expansion of Business Reach: Women micro-entrepreneurs in Tamil Nadu are leveraging digital networks to serve broader markets and access finance, illustrating the transformative impact of DPI on rural business activities.
World Bank Involvement: The World Bank is taking lessons from India’s digital infrastructure to assist other countries, highlighting the successful application and benefits of these innovations.
How is female empowerment being promoted?
National Rural Livelihoods Mission: Organizes rural women into self-help groups, supporting women-led cooperatives and rural enterprises.
Credit Mobilization: More than $4 billion in commercial credit has been mobilized to empower women in business.
Labor Force Participation: Female participation in industry is now 43% of the national total.
Safe Urban Housing: Policies promoting investment in safe urban housing are helping more women enter the workforce.
World Bank Support: The World Bank’s backing assists in scaling these initiatives, enhancing female empowerment across the country.
Question for practice:
Evaluate the impact of World Bank support on India’s initiatives in renewable energy, digital infrastructure innovation, and female empowerment.
