India is one of the fastest-growing economies in the world. However, it is consuming the limited natural resources at an unsustainable rate. India's resource extraction is estimated to be more than three times the world average. Also, India’s material productivity is much lower than the global average. Material productivity is the ratio of output achieved compared to the inputs used. Low material productivity means the inefficient use of natural resources. It is evident that India’s economic growth is at the cost of the natural environment. National Resources Efficiency Policy seeks to solve the problem of the inefficient use of natural resources and promote recycling and reusing of available resources. With the growing demands and the increased strain on the environment, a solid policy to ensure sustainable economic growth is a need of the hour.
Since time immemorial, both India and Africa had maintained close ties with each other, both economically and politically. India and the African nations have suffered the common colonial past and are currently striving to become developed nations.
Africa holds enormous potential, for it is rich with natural resources that are both economically and strategically important. The current government has valued the India-Africa ties and is undertaking all measure to improve the historical connections with Africa.
India’s two top dignitaries, President Ram Nath Kovid and Defence Minister Rajnath Sigh have undertaken important visits Africa between July and August this Year. President Ram Nath Kovind had visited Benin, Gambia, and Guinea-Conakry, while the Defence Minister Rajnath Singh visited Mozambique. These visits showcase India’s increasing focus in Africa.
NITI Aayog’s Draft National Energy Policy had called for a single unified ministry to administer India’s energy sector. India currently has a number of ministries and government departments to deal with issues pertaining to the energy sector. This is not allowing for the optimum use of energy and is increasing the complexity of the energy-related issues. The Draft NEP is going to be placed for the Cabinet approval in the near future. Accepting and implementing the NEP’s recommendations on reforming energy governance is vital for addressing the country’s energy sector issues. However, the government should also carefully traverse the recommended reform given the hard-hitting implications on the existing bureaucratic structure.
Since 2018, India’s working-age population has grown larger than the dependent population consisting of children and senior citizens. This youth bulge is going to last for 37 years. However, the current economic slowdown has led to layoffs, growth decline in various sectors and joblessness. Necessary steps like policy support and reforms must be taken to make full utilisation of India’s demographic dividend to promote the growth and development of the economy.