Roadmap for Answer Writing Introduction to Green Accounting: Define green accounting and its objective of integrating environmental costs into financial assessments. Mention the significance of green accounting in fostering sustainable development. Importance of Green Accounting in India: Highlight the role of green accounting in policy-making ...
Recent infrastructure project in urban development and transportation are Mumbai Trans Harbour Link, Aqua line 3 of Mumbai metro, Noida International airport. Mumbai Trans Harbour link: This the road bridge connecting Mumbai with Navi Mumbai. When completed will give the faster connectivity wRead more
Recent infrastructure project in urban development and transportation are Mumbai Trans Harbour Link, Aqua line 3 of Mumbai metro, Noida International airport.
Mumbai Trans Harbour link: This the road bridge connecting Mumbai with Navi Mumbai. When completed will give the faster connectivity with Mumbai-Goa highway, Mumbai-Pune Expressway. It would be the longest sea bridge in India.
Aqua line 3 of Mumbai metro: An underground line announced as a joint venture between Government of India and Government of Maharashtra on the sharing basis of 50:50. Most of the project is financed by JICA (Japan International cooperation agency) under ODA (Official Development Assistance) loan around 57.2%. Its first phase is expected to be available for public use by July 2024.
Noida International Project: Also known as Jewar Airport. It will help in decongestion of Indira Gandhi International Airport. The airport is being developed through public-private partnership model. The plan is to build a two runaway airport by 2024 and to expand it to 7,200 acres six runway airport.
Implementing agency- The Noida International Airport Limited (NIAL) on the behalf of Government of Uttar Pradesh.
It is planned to be India’s and Asia’s largest airport.
[Note: According to the recent Union Budget 2024-25 the government had allocated Rs 11,11,111 crore for capital expenditure which is 3.4 percent of GDP.]
For funding infrastructure projects government do not adhere to single option instead they opt for various possibility like,
1. For states they provide loan (long-term interest free loans) from the budget allocated for resource allocation.
2. Also, nowadays government is more inclined toward private sector investment providing viability gap fundings.
3. Funding from different countries like Japan (in the form of ODA) is also incorporated.
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Model Answer Importance of Green Accounting in India Better Policy-making and Sustainable Growth Fact: Green accounting enables informed policy decisions balancing economic growth with environmental conservation. Source: Ministry of Environment, Forest and Climate Change, India. Biodiversity ConservRead more
Model Answer
Importance of Green Accounting in India
Better Policy-making and Sustainable Growth
Biodiversity Conservation
Promotes Innovation
Improved Quality of Life
Enhanced Corporate Social Responsibility
Access to Capital
Obstacles in Green Accounting Implementation in India
Developmental Imperatives
Lack of Reliable Data
Absence of Multisectoral Accounting
Additional Costs
Lack of Accountability
Efforts at various levels are crucial to establish effective policies and incentives for a universal green accounting system in India to ensure sustainable development and preserve natural resources for future generations.
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