Economic Survey sees big gains from higher energy consumption
A two-and-a-half times increase in India’s per capita energy consumption will help it grow the real per capita GDP by $5000 (in 2010 prices)
This comes against the backdrop of India using only around 6% of the world’s primary energy despite it having 18% of the world’s population even as the National Democratic Alliance (NDA) government has set an ambitious task of becoming a $5 trillion economy by 2025. The Survey said that the ‘problem of energy poverty has been more pervasive than income poverty".
“India’s per capita energy consumption equals 0.6 tonnes of oil equivalent (toe) as compared to the global per capita average of 1.8 toe. India’s per capita primary energy consumption lags that of the upper-middle income countries by a considerable margin," the Survey added.
“In the medium term, for India to achieve per capita GDP comparable to that of the upper-middle income countries, we require greater energy resources and that too at a rapidly increasing rate," the Survey said.
“Energy intensity of India’s GDP has been declining in the recent past, which is reflective of increases in the efficiency of energy use. However, India cannot become an upper-middle-income country without (i) rapidly raising its share of the global energy consumption commensurate with its share of the global population, and (ii) ensuring universal access to adequate modern commercial energy at affordable prices," the Survey added.
“It is also important to note that India’s energy intensity of GDP started declining at a much lower level of per capita GDP as compared to the developed world. India’s primary energy intensity of GDP started declining since 1991 at per capita GDP of around US$ 578 whereas US primary energy intensity of GDP started declining since 1970 at per capita GDP of around US$ 23,309 (at constant 2010 US$)," the Survey said.
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We OOO GSK-NEFT are an official Oil & Gas Trading Company/Mandate
working direct with Russian Petroleum Refineries which deals on
Russian Petroleum Product such as JP54, D2, D6, JA-1 ETC with good and
workable procedure whereby buyers need to have there owned TSA of
their logistic company that is to sign CI along with the buyer and
insert tank numbers as proof that buyer has tanks availability at the
port to avoid waste of time and delays. Kindly Contact us via
E-mail:{ooogsk.neft@mail.ru} for our official
SCO.
Best Regards
Mr Burdin Dmitry Yuryevich
Tel: +79268063267
Email: ooogsk.neft@mail.ru
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