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India’s environmental diversity and riches are universally recognised but have never been quantified. Starting this year, the government will begin a five-year exercise to compute district-level data of the country’s environmental wealth. The numbers will eventually be used to calculate every State’s ‘green’ Gross Domestic Product (GDP). The metric will help with a range of policy decisions, such as compensation to be paid during land acquisition, calculation of funds required for climate mitigation, and so on.
Usually a nation’s economy is measured and calculated in terms of Gross Domestic Product (GDP) numbers. However, The GDP of a country measures the produced output but ignores the ingredients needed to generate such output like water and air. Green GDP takes into consideration the environmental impacts on the productivity of the country. It is derived from GDP itself after adjusting the cost of environmental degradation and pollution damage. In other words, Green GDP equals GDP less Natural Resource Depletion Less Pollution Damage.
In the end we need to understand that Calculating Green GDP is an difficult task but not an impossible one . It is a very important exercise to secure our future as well future of coming generations.
By: Atul Sambharia ProfileResourcesReport error
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