For the first time, the Economic Survey includes a chapter on “Sustainable Development and Climate Change”, outlining the growth challenges ahead, especially in low-income countries.
Commending India’s development path so far, though it could have done better, the Survey says that, “The choices are more difficult in developing countries because they affect livelihoods.”
Stressing the need for balancing the objectives of economic well-being and environmental sustainability, while reducing its carbon footprint, the Survey says the Government needs to save and spend even more.
Another key suggestion is on economic pricing of energy and other resources, a key to switching to more sustainable development path. “New technologies will be crucial, mostly in the private sector. But social justice will also require stepped-up public spending on energy access and other elements,” it says.
With growing pressure on land, air, water, forests and loss of plant and animal habitat, the Survey hopes that the Twelfth Plan will set out India’s priorities for a sustainable and inclusive, lower-carbon development path.
On the global climate talks, it calls upon the developed countries to reciprocate the flexibility shown by G-77 countries and India at the Durban Conference. It points out that India’s per capita CO2 emissions are much lower than those of the developed countries, even if historical emissions are excluded.