DEVELOPMENT, ENVIRONMENTAL IMPACT AND GREEN GROWTH: INDIADheeraj Verma, Vartika Singh, Prodyut Bhattacharya and Jagdish KishwanAbstract In last three decades post 1990 when Indiaâs private sector was allowed to compete with public sector companies and multinational companies allowed to do business in India there has been higher growth rate and development. The GDP growth rate was over 6 percent between 1991 and 2004 and over 8.5 Percent between 2003 and 2007. In the period 2015 to 2019 the average GDP growth rate has been at 7.5%. Between 1975 to 1990 Indiaâs GDP growth rate was at 5% per annum. India has done spectacular progress in sectors of telecommunications, airlines, airports, ports, highways, railways, motor vehicles, housing, power, banking, manufacturing and others. These development reforms have reduced poverty and improved the human condition but at the same time impacted the environment in terms of air pollution, water pollution, land degradation, noise, waste generation, depletion of natural resources, loss of biodiversity, loss of water bodies, deforestation, threat to animal life and so on. Climate change through greenhouse gas emissions is an impact which no one is untouched with. Though, development is essential, but balance between development and environment is required which is the sustainable development and is now well understood and practiced. A similar approach to balance development, impact on environment and wellbeing of society is also advocated by the green growth. |