Question

describe in brief energy according to economy​

Answer 1

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.