Role of Green Economy in the Context of Indian Economy

After the unprecedented deterioration of our global environment, the world has decided to adopt global green economy concept with the objective of reviving the world economy, saving and creating jobs, and protecting vulnerable groups, promoting sustainable and inclusive growth, reducing risks from carbon dependency and ecosystem degradation and the achievement of the Millennium Development Goals (MDGs,2000). Green Economy is defined as one that results in improved human well-being and social equity, while significantly reducing environmental risk and ecological scarcities (UNEP, 2011). The Green Economy is one in which the vital linkages among the economy, society, and environment are taken into account and in which the transformation of production processes, and consumption patterns, while contributing to a reduced waste, pollution, and the efficient use of resources, materials, and energy, will revitalize and diversify economies, create decent employment opportunities, promote sustainable trade, reduce poverty, and improve equity and income distribution. According to the World Commission on Environment and Development, sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs. The basic objective of this study is to discuss the role of green economy as a tool for achieving sustainable development in India. For our study purpose, we have mainly used secondary data collected from various journals, books and available websites related to green economy and sustainable development. There have been seven sections in our article. Sections- 1, 2, 3 and 4 deal with introduction, review of literature, concept of green economy and sustainable development respectively; section-5 deals with the objective, data and methodology; section-6 deals with green economy for sustainable development; and in section- 7, we have drawn conclusion and recommendations. From the discussion it can be concluded that moving towards a green economy has the potential to achieve development that will meet the needs of the present without compromising the ability of future generations to meet their own needs. It can be suggested that for sustainable development through green economy it is needed active civil society participation. Bhajan Chandra Barman"Role of Green Economy in the Context of Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-1 , December 2017, URL: http://www.ijtsrd.com/papers/ijtsrd7184.pdf http://www.ijtsrd.com/economics/development-economics/7184/role-of-green-economy-in-the-context-of-indian-economy/bhajan-chandra-barman