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| Last Updated:20/07/2019

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India must look at green growth: World Bank report

MUMBAI: India can make green growth a reality by putting in place strategies to reduce environmental degradation at the minimal cost of 0.02% to 0.04% of average annual GDPgrowth rate. According to a new World Bank report released today, this will allow India to maintain a high pace of economic growth without jeopardizing future environmental sustainability.

The report titled, "Diagnostic Assessment of Select Environmental Challenges in India" is the first-ever national level economic assessment of environmental degradation in India. It analyzes the physical and monetary losses of environmental health and natural resources; the tradeoffs between economic growth and environmental sustainability; and provides a valuation for biodiversity and ecosystem services in India. 

According to the assessment done by the authors of the report, the annual cost of environmental degradation in India amounts to about Rs 3.75 trillion ($80 billion) equivalent to 5.7% of GDP. It focuses on 
particle pollution (PM10) from the burning of fossil fuels, which has serious health consequences amounting to up to three per cent of India's GDP along with losses due to lack of access to clean water supply, sanitation and hygiene and natural resources depletion. 

 

The Times of India (26-07-2013)