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THEME PAPER
THE INTERSECTION OF ECONOMIC GROWTH
AND ENVIRONMENTAL SUSTAINABILITY IN INDIA:
PATHWAYS FOR VIKSIT BHARAT
ANSHU KALSHYAN The paper examines India’s financing models. The Paper
economic growth and its advocates for integrated policies,
alignment with environmental smart city development, and
sustainability, it explores “Green circular economy practices to
Growth” initiatives, including ensure balanced economic growth
the Union Budget’s INR 350 and environmental resilience,
billion investment in net-zero positioning India as a leader
emissions and energy security, in sustainable urbanisation by
along with India’s commitment 2047.
to SDG 11 (Sustainable Cities)
and SDG 13 (Climate Action) 1. Background
through programs like the Smart 1.1 Introduction: Overview of
Cities Mission and PMAY. Economic Development and
It further discusses the impact of Environmental Sustainability
rapid urbanisation, with 40% of India, a mixed economy with
the population projected to live in a GDP of approximately $3.5
cities by 2030, contributing 70% trillion in 2024, is a land of
to GDP. The paper addresses diversity and rich cultural
infrastructure challenges, heritage. India’s vision
a $840 billion investment
requirement by 2036, and limited to become a “developed”
private sector involvement. economy by 2047, termed as
Environmental concerns the ‘Amrit Kaal’ has gained
such as urban sprawl, carbon significant momentum.
emissions, and water scarcity are Despite global challenges
analysed, alongside strategies such as the pandemic and
for sustainable housing, energy- economic crises, India has
th
efficient construction, and risen from the 13 position
renewable energy adoption. to become the fifth largest
Finally, the paper highlights economy in the world,
the roles of government, private growing at an average rate
sector, and civil society in of over 6%. India is one of
promoting sustainable urban the few nations experiencing
Economics Executive, housing. It emphasizes public- rapid economic growth while
HUDCO Corporate Office private partnerships, community also focusing on sustainable
anshukalshyan6595@gmail.com
engagement, and innovative development.
18 HUDCO-HSMI Publication
