“The problem with following the herd is stepping in the crap it leaves behind”.
Conventionally, all economies are running for higher GDPs, economic growths, short term profits and new business gains. But the real basis on which economies ‘thrive’, i.e., the asset base, the capital resources – are these unlimited? To large extent, no. The natural resources base, non-renewable capital resources are continuously declining and ignoring the facts, in the name of ‘short run benefits’, is taking us far away from our ‘long run’ realities.
Sustainable development means meeting the needs of the present generations without compromising on the needs of the future generations, hence ensuring inter-generational well-being, justice, equality, and harmony for long run prosperity. Developing sustainably has three pillars – economic, environmental, and social dimensions. Overall, its goal is putting the nation gradually on the path of stable continuous growth track for years and generations. As noble as the concept sounds, indeed this path is gradually being taken by all the major economies worldwide, in their own unique ways. For example – Bhutan adopted its “Happiness Index”, or Indonesia established it’s “Sustainable Welfare Index”.
Admittedly, India too has undergone a dynamic economic growth trajectory of highs and lows since liberalization. Over last few years, though, the clamour has been rising about growth cannot just be captured in terms of monetary worth of goods and services produced or in terms of monetary value added. Today, the alarm of sustainable development ringing globally has refused to merely exist as background music, and it deserves support, voice, and urgent attention. It needs to be adopted at both micro and macro levels of economic analyses. Particularly, for India, given its population’s huge natural resources dependability and existence still as ‘developing stage’, a sustainable development pattern is utmost essential for equitable and just prosperity, in terms of both growth and well-being in the long run. Hence, need of the hour is not to wait for getting sustainable but adapt to its urgency – at national, states, societal as well as individual levels. Let us not wait for our governments to act, but we can take simple steps like – banning use of plastics, making use of public transports more, growing trees, keeping our natural habitats intact and beautiful. As noted author, Robert Swan rightly said, “The greatest threat to our planet is the belief that someone else will save it.” We have only one life and one planet – our beloved Mother Earth, let us pledge to go green and sustainable at all times!
By Shobhna Jha
(Ph.D. Economics Research Scholar, at IIT Delhi and Kathak Artist)
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