The Road Ahead

Abstract

To gain a global economic perspective, India is one of the most important countries to understand. It is the world's largest democracy and the world's fourth largest economy in terms of purchasing power parity. However, about one-third of the total population of the country survives on less than US$1 per day. These two facts lead to degradation and depletion of the environment and natural resources. Similarly, the country has elaborate statutes, regulations, institutional frameworks and policies on almost every conceivable topic — from hazardous waste to public liability for forests and wildlife. However, monitoring and enforcement capabilities are weak.