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15-May2018

India's economy needs to grow at 10% for next 30 years to meet population's demands: Kant

In order to meet the ever- increasing demands of India's growing population, NITI Aayog CEO Amitabh Kant has said that the country's real Gross domestic product (GDP) must register a growth of around 10 percent annually over the next three decades. However, he cautioned that this order of growth will not be attained if the 'business-as-usual' approach to the use of scarce resources continues.

Kant has said that for reducing reliance on fossil fuels in transportation, a NITI Aayog analysis suggests that the way forward is the use of bio-fuels. He also said that they are giving a big push to electric vehicles in a bid to conserve exhaustible natural resources and bring about resource efficiency. Besides, he emphasized the need to embed the principles of circular economy in India's school education system. He also explained that a circular economy, in contrast to the 'make-use-dispose' model of the linear economy, focuses on use of resources for longest possible time as also recovering and regenerating products and materials at the end of their life cycle.

Noting that the government needs to enable regulatory framework for circular economy, NITI Aayog CEO said that they should incentivize use of renewable material for construction sector. He also stressed that the government needs to push the limits of the circular economy and make it a mass movement. 



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