SUSTAINABILITY

OF ECONOMIC
GROWTH
INTRODUCTION
Economists have used the term sustainable development
in an attempt to clarify the balance between economic
growths on the one hand and conservation and protection
of environment on the other. Sustainable development
refers to meeting the needs of the present generation
without compromising the needs of future generation.
Thus economic growth will be sustainable if the stock of
capital assets including land remains constant or
increases over time. It may however be noted that future
economic development and quality of life crucially
depends on the natural resource base and quality of the
environment i.e., the quality of land, water and air.
It is therefore necessary that while deciding about growth
environmental issues should be factored in. For instance,
loss or preservation of important environmental resources
should be taken into account while preparing estimates of
growth and well -being of the people.
Alternatively, economic policy makers may opt for framing a
growth strategy of no net loss of environmental assets so as
to ensure sustainable development. In this latter case if
environmental resources are destroyed or depleted in one
area, an equal or greater amount of environmental resources
are replenished or regenerated so that future economic
growth is not adversely affected.
ABOUT INDIA
Economic Development without
environmental considerations can cause
serious environmental damage, in turn
impairing the quality of life of present and
future generations. Such environmental
degradation imposes a cost on the society
and needs to be explicitly factored into
economic planning, with necessary
remedial measures incorporated.
The National Environment policy 2006 has attempted to
mainstream environmental concerns in
all our developmental activities. It underlines that while
conservation of environmental resources is necessary to secure
livelihoods and well being of all, the most secure basis for
conservation is to ensure that people dependant on particular
resources obtain better livelihoods from the fact of conservation,
than from degradation of the resource.
The Government of India, through its various policies, has been
factoring ecological concerns into the development process so
that economic development can be achieved without critically
damaging the environment.
The strong sustainable development agenda followed by
India incorporates rigorous environmental safeguards for
infrastructure projects, strengthening of the
environmental governance system, revitalizing of
regulatory institutions, focusing on river conservation,
and efforts for improvements in air and water quality, on
a continuous basis.
Our environmental standards are set through
Government policies aimed at a development process
that is environmentally sustainable and ensures well-
being of the people.
THE BROAD OBJECTIVES OF OUR ENVIRONMENTAL
POLICIES AND PROGRAMMES ARE:

1. Conservation of flora, fauna, forests, and wildlife;

2. Prevention and control of pollution;
3. Afforestation and regeneration of degraded areas;
4. Protection of the environment..
As a country, India has been in the forefront of preserving
biodiversity, sustainable management of forests, reducing
emissions intensity of the economy, and following
sustainable consumption and production patterns.