Power and Oil Sector in India: An Estimation and Analysis of the Key Influencer Impacting Energy, Production and Distribution Parameters With Respect to Socio Economic Progress and Changes in India
Rizul Gupta
Pathways World School Aravali Sohna Road, Haryana
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For a developing country like India, the energy security task is gigantic.
India would need to sustain an economic growth rate of 8-10% over the next 25 years, in order
to eradicate poverty and meet its human development needs. India is a hugely energy deficit
country where half the population does not have access to commercial energy. Presently, India
depends to the extent of 75% or more on imported crude oil.
Energy security addresses not merely economic growth but also more basic human needs of
sustenance and poverty eradication. India needs energy to fight poverty. Needless to mention
that India’s energy consumption on per capita terms is amongst the lowest vis-àvis other fellow
developing countries, not to mention developed countries.
Keywords: GDP; growth rate; socioeconomic development; Power and oil sector