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Bringing economic and energy efficiency priorities together in a post-pandemic world
Simrat Kaur, Tarun Garg | September 4, 2020
The economic repercussions of the pandemic have been alarming in the country with the contraction of GDP in Q1 of 2020 by 23.9% and the loss of jobs in April with the announcement of lockdown has been estimated to be at an alarming high of 122 million. To cope up with the ensuing economic downturn, the Government of India announced a stimulus package worth INR 20 lakh crore in May 2020, presenting a unique window of opportunity to strategically realign India’s development plans with the climate and environment objectives. Buildings are the second-highest energy-consuming sector in India, after industry and constitute around 33% of total energy consumption. A green economic recovery that encompasses investment of funds in the construction of energy-efficient buildings, rolling out of energy-efficient appliances and setting up of a robust, energy-efficient cold chain for the agriculture sector fares well on multiple indicators.