describe in brief energy according to economy
Answers
Answer:
Energy is the most important component of economic infrastructure. Availability
of adequate energy is necessary for the growth of an economy. Energy is one of the
most crucial inputs for production. The level of production and productivity depends
the availability of adequate energy. Therefore, energy plays a crucial role in
agricultural development and industrialisation. Energy is essential for domestic
use also. Availability of adequate energy is essential for a good standard of living
and for improving the quality of life. Since energy is essential for production and
domestic consumption, demand for energy increases with increase in national
income and per capita income, i.e., with economic growth of the country. India is
able to meet around 70 per cent of its energy demand from domestic production;
the balance is met from imports.